Legal Question in Real Estate Law in Massachusetts
rights to profits from sale
1992 purchased home with friend in late 90's I was having som financial difficulties due to an extended illness but continued to pay my part of mortgage, my friend was now married and we were all living in the house. We wanted to refi the home for a better interest rate and and her husband was now paying 1/3 of mortgage so the refi was done in their names only I was told by my friends that my name would remain on the deed but at the closing I was told that was not possible. I have continued to pay 1/3 of mortgage and other household expenses. My friends are now divorcing and are selling the home, I don't object to this but want to know if I can stop the sale until I receive assurances that I will share in any profits from the sale
2 Answers from Attorneys
Re: rights to profits from sale
If you wish to secure your rights, you will need to act quickly. With your name off of the deed, you face some obstacles. Please feel free to contact our office at 978.250.4255.
Re: rights to profits from sale
You got problems. I don't know the reasons why your name was not placed on the deed at the outset or later. You can file an action in equity and have the court declare that you are part owner of the property. You can have the friend sign a deed that gives you an interest in the property. This is a complicated issue, and you need to sit with counsel to discuss this.