Legal Question in Real Estate Law in Florida

My husband and I put the down payment, closing fees and all related improvements on a home in 2010. We also included our adult daughter on the deed so she could establish credit. She did not contribute any money towards the purchase of the home. She has lived there for 9 years paying a small mortgage, taxes and Insurance. We were recently informed by Chase bank that they had sold the loan as a bad debt to a bank that handles bad loans. We called up this new company and they informed us that the loan has been in default since May. Our daughter has not been paying the mortgage and the property could very soon go into foreclosure. We need to sell the house before foreclosure proceedings go into effect. She refuses to sign the sale contract unless we give her $100,000. We want to know what we can do to protect our interest and sell the property without being extorted. She has also refused to let us see our 6 year old grandson who we have been taking care of while she is working. We are retired seniors and cannot believe our daughter is doing this. She claims that since she has been living there for 9 years that she is entitled to the entire proceeds. We told her the proceeds would be distributed between the three of us and we would each get 1/3. What can we do?? Pls help.

1 Answer from Attorneys

Related Questions & Answers

More Real Estate and Real Property questions and answers in Florida

Looking for something else?