Legal Question in Real Estate Law in Illinois
Rights of Ownership home I own with Brother
Purchased home last year w/brother & his wife. He paid 2/3(& I 1/3) of the mortgage. He has 4 small children & I'm single. All 3 of us signed identical papers at the closing. We had a verbal agreement; I'd stay and help him out for a while & in return, when I was ready to buy my own place, he'd re-finance and pay me pay all the mortgage money in addtn to the costs I incurred for any home improvements. (I put in an additional bathroom). I went into this trusting my brother, & didnt ask for a written agreement even though I was warned. & of course, when I told him in september that I wanted to leave in march '04(plenty of time to prepare) we had a huge falling out. He refuses to pay me per our agreement. Its a huge family conflict. I never rec'd a copy of the deed, so today I visited the law office where we closed on the house. I went to the RM courthouse & I am still on the deed. What rights of ownership do I have (I no longer live in house)& what are my chances of getting back my money IF I sue him? Would he be required to sell home & give me 1/2 of equity, or would he only have to pay me in installments? My dad also said he may be refinancing tomorrow, how can he do so if I am still on the deed?
1 Answer from Attorneys
Re: Rights of Ownership home I own with Brother
If you are on the mortgage and the deed, I am not sure how he is refinancing. He may only be refinancing his share. I assume the property is held as tenants in common. You can go to court to force a sale of the property. As for what you are owed, that is a contract matter even if it was oral - it is still enforceable. Lots of issues that are tough to navigate without a lawyer.
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