What can be done when 2 owners of real estate can’t agree on ownership matters?
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What can be done when 2 owners of real estate can’t agree on ownership matters?
The mortgage is 100% financed in my name but I put a girlfriend’s name on the deed. We broke up and now I know that she’s 50% owner of home. We both want the house. New Link Destination
settle it, I moved out and she was going to buy me out and refinance. She’s put me off for 3 months and now she says it’ll be 3 more months until she can get it done. Her credit isn’t good enough to buy the house. What legally can I do? I just want the dispute settled. I want to buy another property but need this one off of my credit.
Asked on October 9, 2015 under Real Estate Law, Florida
Answers:
M.D., Member, California and New York Bar / FreeAdvice Contributing Attorney
Answered 9 years ago | Contributor
If you can't reach an agreement about whether or not to sell the house, then you can go to court to settle things. The law provides a remedy known as "partition" this refers to a judicial division of property among co-owners.
If the property can be physically divided, the court will instruct that it be done. However, since we are dealing with a single family dwelling, splitting it up would not be possible. In such a case, the court will order the sale of the property at fair market value and an equitable division of the proceeds among the joint owners. However, it will first allow the property to be offered to any co-owner who wants to keep the property. If that owner cannot afford to buy it, then it will be put on the market.
You should be aware, however, that a partiton or forced sale can be expensive and time consuming. Perhaps you can explain all of this to your ex-girlfriend and she will change her mind. If not, you should consult directly with a local real estate attorney who can more fully explain your rights and remdies under specific state law.
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