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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.
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.
The foregoing information is general information only and should not be relied upon to take, or fail to take, legal action. No attorney-client relationship is formed by this information. __The only manner to obtain complete and adequate legal advice is to consult with an attorney.__
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DisclaimerThe response posted is based upon the information made available and is not intended as a full and complete response to the question. The only manner to obtain complete and adequate legal advice is to consult with an attorney. No Q&A posting or other communication will be treated as confidential from this website and does not create an attorney-client relationship.