Legal Question in Real Estate Law in California

Tenants in common went bad

I purchased a house w/ a friend who could no longer make the payments. He accumulated debts w/ me for the mortgage and closing costs (7,000). We signed a promisary note after he disclosed that he could no longer keep up. I had NO choice, the bills were coming in late EVERY month. In it I stated I would pay all taxes and insurance, and he would pay me ''rent''. He also promised to repay the 7,000. Now, it is time to sell. When we signed the note, I wrote that I would be in charge of selling the home , thinking at that time I would break even. Now it looks like I will have to pay 20,000 out of my own pocket. This is rediculous. To sum it up-we were in contract to go 50/50, he failed, I picked up the pieces, now I'm in debt. Do I write this off as a bad experience or do I have legal ground. I WILL sue if I stand a chance. Please give me some advice so I can pursue the matter. Thanks.


Asked on 4/08/07, 7:19 pm

2 Answers from Attorneys
Larry Rothman Larry Rothman & Associates

Re: Tenants in common went bad

If a stern letter from an attorney does not work, you may have to file a partition action. This does not mean that you have to complete the lawsuit. Sometimes, the filing causing reconsideration of the problem owner. Please call me if you have any questions.

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Answered on 4/13/07, 9:09 am
Bryan Whipple Bryan R. R. Whipple, Attorney at Law

Re: Tenants in common went bad

I think the practicality of suit to get a judgment against your friend for, say, $20,000 to $27,000 depends more upon your chances of collecting the judgment (probably poor) than upon your likelihood of prevailing in court (probably good, but it isn't the world's simplest case).

If you now reside in Hawaii, it would be an expensive nuisance to prosecute a suit through trial in California.

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Answered on 4/08/07, 8:33 pm


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