Legal Question in Real Estate Law in California
Grant Deed of Trust
5 years ago my mother passed away leaving her home to myself and my sister free and clear. A year after she died I was going through a divorce and had a breadown. My siter took a loan out (a line of credit at her bank using the house as collecteral) for $150,000 to help me out of debt from the divorce. Now she wants to sell the house for approx. $700,000 and she needs me to sign off the deed of trust, I told her I felt it was fair that she give me $50,000 and everything else is her since I already had the $150,000. She says I am not entitled to anything that she bought me out...Can I refuse to sign the deed of trust until she agrees in writing to get me $50,000. I feel she is not entiltled to$550,000 profit. She said she would take me to court over this....When she gave me $150,000 I thought this was a portion of the sale when it took place in the future. I feel she took advantage of me due to the mental state I was in at the time.....
2 Answers from Attorneys
Re: Grant Deed of Trust
Unless you had an agreement in writing that your sister was in fact buying you out, it sounds like you are entitled to a lot more than $50,000. Unfortunately, it is quite impossible to advise you without the opportunity to review the documents that you signed.
Gather up all the documents you signed and make an appointment with local real estate attorney for further advice.
Re: Grant Deed of Trust
I am sure she wants you to sign a "grant deed" not a "deed of trust"; if you refuse to do this, her only alternative would be to file an action in court, likely for partition. Some issues you did not address, however, include who has been making the payments on that loan all this time? How about property taxes and insurance?
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