Legal Question in Real Estate Law in North Carolina
I have bought a piece of residential real estate with my boyfriend. The title/deed is in both of our names. I trusted him enough to do this with him but after a bad divorce, I don't fully trust him.
We have fixed up the house and now he is planning on living in the house. He is now wanting to buy me out. I feel guilty about asking him to sign something in advance of signing over my interest to him (before he gives me any money). He tells me that he cannot go to the bank and borrow the money until my name is off the deed... what should I do to protect myself in this situation - to ensure that I don't get screwed out of the money?
1 Answer from Attorneys
Until he pays you...do not sign...you can give him a deed at the closing of his loan. Once you sign over the title, you lose all leverage to gaurantee he pays you.
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