Legal Question in Real Estate Law in New Jersey

partnership agreement

I gave shelter to my sister, fiance, daughter and 4 dogs after she had a house fire in Feb 2005. I had a tenant sharing the house and mortgage with me. I asked him to leave so she could move in and he agreeded to do this.She moved in March 05 and While she was living with me she wanted to buy into the house. My sister selected realestate agent to appraise the house. The agent stated that the house was worth 380,000.00 April 05.

She went to an attorney and they drew up a partnership agreement the terms were that she sell her house and invest $90,000.00, Which would equal the cash investment I made when I purchased the home 2 years prior. Then make 1/2 of the monthly mortgage payments. She put her home up for sale. I trusted my sister so I did not have an attorney and signed the agreement. The lawyer drew a new deed with her name and mine on the new deed and filed the deed, before she gave me any money. The mortgage remained in my name only. Meanwhile I lost my job and offered her the house for the 380,000 she refused to buy the house. she moved out in august 05 and took her home off the market. She has not made any mortgage payments since July 05 or complied with any terms of the agreement she is demanding 20,000.00 after the s


Asked on 10/27/05, 3:17 pm

2 Answers from Attorneys
Walter LeVine Walter D. LeVine, Esq.

Re: partnership agreement

I totally agree with Bob. You need to take legal action to terminate the agreement and clear the title from your sister's legal status. It appears the agreement was breached, but, more important, is that you allowed a Deed to be recorded that probably gives your sister a one-half interest in the house and she needs to be removed from this Deed. There may be legitimate claims on both sides, you possibly for rent while she was there, she for her mortgage contributions, among other issues. This is a complicated situation, but one that must be resolved promptly.

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Answered on 10/28/05, 12:07 pm
Robert Davies The Davies Law Firm, P.A.

Re: partnership agreement

Your description is not complete, but it seems you have a real and serious problem with your sister.

You need an attorney. No advice over an internet bulletinboard will help solve your problems. I suggest you find an attorney near you who is experienced in both real estate matters and experienced in litigation (going to court and litigating claims before judges and juries).

Please contact me if I can assist you.

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Answered on 10/27/05, 3:31 pm


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