Legal Question in Real Estate Law in Iowa
I am a half property owner along with my girlfriend. We are both on the title but she is the only one on the mortgage. Over the past six months are relationship has deteriorated to the point where we need to break up. She does not want to sell the house. If I were to move out of the house and later down the road she sells it, will I receive half the equity in the home as apart of that sale since I am also a property owner? Or if I walk away now, am I forfeiting my rights to the property even though I am legally listed as a property owner?
1 Answer from Attorneys
You will not lose your ownership if you move out of the house. However, whether you are entitled to half the equity is a more complicated question. Essentially, you have an oral partnership agreement. Where it gets complicated is the fact that you might have different ideas about the terms of that agreement. You might want to try to work out those terms before too much time elapses. Depending on the status of your relationship and how far apart you are on what those terms should be, you may each want to hire an attorney get a written agreement that will outlast shifting memories.
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