Legal Question in Real Estate Law in Georgia

Relationship between deed and ownership/liability

I have a verbal agreement with an old friend to purchase a retirement home on a 50/50 basis. She paid cash and I agreed to reimburse half of property and remodeling cost over a period not to exceed 5 years. She was to have her lawyer draw up the agreement, I could not be at the closing. She admitted two months later her adult son's name was on the deed. She said this was until our contract was signed, he was not an owner. I am told that she said in his presence he was 'one third owner', when questioned she said 'one of three' owners. Four months later and no ownership contract, I am attempting to contact her attorney. The son hired and committed funds to contractors without my knowledge and I am expected to reimburse at 50%. I have no copies, have signed nothing but know my name is on the deed although to my knowledge, everything else is in her name. Without the contract for 50/50 ownership, how does the law assign ownership and liability for the property both now and in event of her death? I view her son as irresponsible and untrustworthy and his inclusion on the deed as deceptive. Am I bound to our verbal agreement? I have paid approximately $3000 which I am willing to write off.

1000 Miles Away


Asked on 1/16/05, 5:19 pm

1 Answer from Attorneys
Glenn M. Lyon, Esq. MacGREGOR LYON, LLC, Business Attorneys

Re: Relationship between deed and ownership/liability

The answer to your question depends on many factors. In Georgia, agreements concerning the sale of land must be in writing and signed by the party to be charged, i.e. the one to whom you are trying to hold the contract. However, there are exceptions to this rule and at least one may apply. For example, if you partially performed some of the agreement, that might be enough proof to evidence the contract.

If you would like to discuss any issues further, please feel free to contact my office. My contact information is below. Thank you.

The foregoing is general information only, not specific legal advice. No attorney/client relation has been created or should be implied.

Glenn M. Lyon, Esq

MacGregor Lyon, LLC

Promenade II

1230 Peachtree Street NE

Suite 1900

Atlanta Georgia 30309

Phone 404.942.3545

Fax 404.795.0993

[email protected]

www.macgregorlyon.com

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Answered on 1/17/05, 1:26 pm


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