Legal Question in Real Estate Law in California
I was the co owner of a condo with two other families. All three of us obtained a mortage together for the purchase. About three years later one family decided they did not want to own the property any more and myself and the second remaining partner refinanced the property which has gone down in value substantially. After the close of the refinancing, we received two checks from the origonal lender for over payment. The partner that has been removed refuses to sign the checks. A small portion of the proceeds from these checks belongs to them. So here is the questions. Can I ask a small claims court judge to order the old partner to sign the checks? I think it is called specific performance.
1 Answer from Attorneys
Your best bet, instead of engaging in costly and wasteful litigation, is to determine whether the lender would issue checks reflecting each coowner's overpayment. Then if he refuses to endorse his own check, it is his problem.
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