Legal Question in Real Estate Law in Missouri

real estate

2 females recently bought a home together. Both are 21 years old. They have since seperated. One(female A) signed the quick deed over to the other(female B), & moved out. Verbal contract for female B to pay the monthly note, and female A to move out completely, while female B refinances. Female B has not made the loan payments & the house is about to be foreclosed. How can this be resolved legally without bankruptcy or severe credit damages for both.

Thanks & I hope this made sense-


Asked on 12/27/07, 6:26 pm

1 Answer from Attorneys
Michael R. Nack Michael R. Nack, Attorney at Law

Re: real estate

In the first place it is a quit claim deed not a quick deed. In the second place, you really should have gotten legal advice before you got yourself into this situation. From the facts you have given us, both of the females have already had their credit damaged, and if there is a foreclosure it will be worse for both of them. The oral contract is not legally enforceable. The two of you need to agree on how to handle this situation, but if you can not, then either of you can file a lawsuit and let a judge decide. If the lender takes he house and sells it for less than the balance owed, then the lender can sue either one or both of you on the deficiency balance. It would be a good idea to pay an attorney a reasonable retainer fee and get all of the help that you need. Good luck.

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Answered on 12/27/07, 11:11 pm


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