Legal Question in Real Estate Law in Maine
Ex-girlfriend and house equity..How can he get his half?
My boyfriend owns a house with his ex-girlfriend. His name is on the deed and mortgage along with hers. They were never married. She is currently selling another house she use to own. My boyfriend wants to get the equity he deserves on his house now that the relationship is over. They have two kids together and doesn't expect his ex-girlfriend to sell their house anytime soon. Can he put a lien on the other house she is selling to get the equity owed to him rather then wait for her to refinance and pay him his half on the house they own together? What process should take place now? Thank you for your assistance!
1 Answer from Attorneys
Re: Ex-girlfriend and house equity..How can he get his half?
As owners in joint tenancy of the property they have equal rights to possession and equal responsibility under the mortgage. By agreement one party may have possession of the house and will pay for the mortgage, but a failure to stay current on the mortgage will also harm the other parties credit. How much did each use for the down payment? can they agree on the equity to be split? Ideally this would be resolved now as the issues only get more difficult if years go by and the situation is unresolved. The property will need repair sometime. Who will get the equity created by future payments? Negotiation and refinance may be the best options, but there are legal rights that can be enforced. Placing a lien on other property may be difficult and take some time.
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