Legal Question in Real Estate Law in New Jersey

Re: Bought a home with fiancee, now separating

The more records you have of what you paid for, the more likely you can keep the personal items and be reimbursed for the costs. Most of these situations end up being resolved without going to Court, but you would be smart to have an attorney review this with you and advise you or represent you in the course of your negotiations. An attorney can also assist you in getting an appraisal if needed. If you are in North NJ you can contact me for a consultation.

Re: Bought a home with fiancee, now separating

You and your former fiance can attempt to amicably decide how much he should pay you for your interest in the house. You need to agree on the value of the house. If you both contributed equally to the acquisition (except for the closing costs), then you might start from a position that you want half the value, plus at least half of the closing costs which you fronted. If you did not contribute equally to the acquisition, then you would decide what you thought was fair (also taking into account your parent's contribution). You might also take the position that he should be paying the entire mortgage right now since he is enjoying sole possession at this time. He should refinance in order to get your name off of the loan so if he fails to pay in the future it does not affect your credit. All of these points may be negotiated.

You should strongly consider obtaining an attorney to advocate for you and assist you.

If you and your former fiance cannot agree, then you will need to file a partition action to compel the sale and an equitable distribution of the proceeds between the two of you.

As far as the personal property in the home, whoever paid for it owns it, unless there was an alternate agreement as to who owned what. Proving who owns what may be more problematic in the event of a dispute.

You did not list your zip code so I do not know where you are located. Feel free to call me for assistance.