Legal Question in Real Estate Law in Florida
Force partition
I co-own a house that has been mortgaged by the other half. The loan is at least half the value and not signed by me. Will it be a big legal hassle with the bank if I force partion? Can the bank stop me from selling? The woman is making her payments.She has recently married and I don't believe she's even living in the house. I really want to resolve this and receive a fair amount.
2 Answers from Attorneys
Re: Force partition
How did your co-owner mortgage his half of the house? What bank would take a security interest in half the property? Something does not seem right. Your interest may be superior to the bank's interest. Partition depends on the type of tenancy. A joint tenancy with rights of survivorship may not be subject to partition. Whereas, a tenancy in common is partitionable. Either way, expect grief from the bank. For more info, please contact my office at (248)851-3171.
Re: Force partition
It should not be problem as long as the property value exceeds the mortgage. Good luck,