equity entitlment


So my Friend and I bought a house together in 2009 ( both names are on the title of the house) and he moved out in 2013 and stopped paying for the mortgage and anything for the house. now that the equity in the house is really good and I am looking to sell the house he is telling me he wants half of what I get for selling the house. I want to know legally how much is he entitled to if I sell the house.

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Posted by Anonymous
Asked on January 29, 2019 9:03 am
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This is a common occurrence but the answer is not easily identifiable, how much will depend on many factors related to the expenses incurred during the ownership and whether or not the parties can agree on a number or if we need to get a Judge to determine the correct number.
The issue for you is that if he is on title you may not be able to sell the home without coming to an agreement with your co-owner.
I recommend that you contact a real estate litigation attorney to help you in determining what is fair and to assist you in negotiating a resolution. If your co-owner is uncooperative or unreasonable then you will likely need to bring a lawsuit to resolve this.

You can schedule a free consultation to discuss this issue in more detail here on our website or by calling 303-688-0944

Good Luck!

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Posted by donald@robinsonandhenry.com (Questions: 0, Answers: 47)
Answered on January 29, 2019 9:42 am