Legal Question in Real Estate Law in New York

Co-owner of property

My fiancee and I purchased a house 6 months ago. Both our names are on the deed and the mortgage. We have ended our relationship and are selling the house. I put the down payment down ($38,000) on this house which came from the equity of my previous home which I was the only owner. Is my ex-fiancee entitled to any of the proceeds from the sale of the house? The home has not appreciated in this timeframe and I expect that I am not going to get a full return on my down payment.


Asked on 9/13/07, 9:58 pm

1 Answer from Attorneys
Michael Markowitz Michael A. Markowitz, PC

Re: Co-owner of property

Although you were not married, you are defacto partners for this house purchased 6 months ago. In a partnership, the partner is entitled to return of capital contribution before division of profit. Therefore, the return of your 38G comes off the top.

Read more
Answered on 9/15/07, 11:08 am


Related Questions & Answers

More Real Estate and Real Property questions and answers in New York