Legal Question in Family Law in New York
Domestic Partner
I own a house with my boyfriend of 10 years. Both of our names are on the mortgage as well as a home equity loan. I am considering terminating the relationship. How can I get my name off both loans? I think that I only have two options. One, have him refinance both the mortgage and home equity so that he is sole owner, which he probably will not be able to do because he has a poor credit history or two, sell the house and divide up the proceeds after paying off the loans. The only problem there is that he is not willing to give up the house. What can I do legally?
2 Answers from Attorneys
A partition action
Is the safest way to extricate yourself. The court will order both an valuation and accounting and if one party cannot buy the other out, a sale with the proceeds split afterwards. You should note that the person appointed (a referee) will have to be paid, the appraisel paid, the lawyers paid and that those amounts will effect the cash remaining. Advise your partner of this and try to get him to agree to the sale.
Re: Domestic Partner
You do have at least one option. An aciton for partition will force him into one of several actions. You would be best advised to get an attorney to help you in this. A partition action, although usually straight forward can get messy in some situations.
If you wish to discuss this further you can contact me at [email protected] or 516/746/4747
Joel R. Salinger, Esq.
Law office of Joel R. Salinger
114 Old Country Road
Mineola, New York 11501
Related Questions & Answers
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
