Legal Question in Real Estate Law in Maryland

Re: coowner rights

You can approach him and try to agree as to the disposition of the property. Any agreement should be prepared by an attorney.

If he does not agree, you can sue him for your interest in the property. If he plans to keep the property, this suit will frustrate any intention that he may have to keep the property since there will be a forced sale (that is a sale declared by the court).

You could approach your current lender to see if they will allow you to be bought out and for him refinance the property in his name solely. The outcome of this will depend on a variety of factors. Until your name is off the loan, you are liable for payment and so you should seek to have this matter addressed promptly.

Contact me should you require assistance. At a minumim, title work and other matters are involved. You may need to search for a new lender to convey the property to him where your current lender does not agree to remove you from the note.

Re: coowner rights

You have a right to your share of the equity even if you move out. If your boyfriend is not willing or able to buy you out, you could file a lawsuit known as a partition action. In this suit you would request the court to appoint a trustee to sell the house and then determine how much of the sales proceeds each of you is entitled to. Since you probably don't have an agreement with your boyfriend on this, it would be determined by the respective contributions of each of you to the property.

As far as your responsibility for the mortgage, the lender is not likely to remove your name from the loan. They want to be able to look to both of you for payment in case of a default. So if you're thinking of buying your own place, this will be a problem because it will still be on your credit record. If your boyfriend is willing to buy you out and you can agree on a price, the best solution is for him to refinance the mortgage in his own name, borrowing enough to pay you off in the process. Hopefully the numbers will work for you.