Legal Question in Real Estate Law in California

First of all, here are some of the factors that will bear upon your list of practical choices and your process of selecting which choice to select:

1. Do you have a written agreement of any kind?

2. If not, is there other written evidence that might point to your intentions at the time of purchase, such as what you put into your purchase offer, your loan application, etc.?

3. Who put up the purchase money (down payment)?

4. How do you hold title - joint tenants, tenants in common, etc."

5. What is the financial posture of the property- significant equity, "under water," etc?

6. Are you both co-borrowers on the loan or loans?

7. Who is currently in possession of the condo - you, him, both of you, a tenant, etc.?

8. Is either of you unhappy with the current possession situation?

9. Does either of you want to buy out the other and become the sole owner?

10. What are your income, savings and credit-worthiness positions now?

11. Even though you are no longer a couple, can you cooperate on "business" matters?

12. Any other financial baggage like second mortgages, threatened bankrupties, etc.?

Among your options:

a. Agree to list and sell the condo.

b. Agree to keep the condo, rent it out, and divide the net income or losses.

c. X buys out Y, or Y buys out X.

d. Stop paying the mortgage and let it foreclose. Sub-strategies include foreclosure alternatives like short sale, loan renegotiation, and deed in lieu of foreclosure.

e. Agree to private binding arbitration, with the arbitrator empowered to sell the condo for you and divide the net proceeds fairly.

f. One or the other of you file a suit for partition, effectively asking the court to sell the condo for you and divide the net proceeds fairly.

g. If there is equity and you paid more than 50% of the purchase money, you can sue to quiet title in yourself of the difference between your share of the down-payment and the 50% reflected in recorded title.

h. There are probably other alternatives and hybrid strategies that would be suggested by your answers to 1 - 12, above.

If you cannot agree on dispossing it or one buying the other out, then you may file a partition action. Contact me directly.