Legal Question in Real Estate Law in Oregon

co-owned home

I am 84. I purchased a home in Oregon for $260,000. I paid $85,000 down. another man Co-signed to help get the loan. He paid $0. He lives in the house, and we share the monthly payment

I can't pay any more. He won't move out, or agree to sell for less than $300,000 because our agreement says we will split the profit.

What action can I take. I live in SC. I know that I made a foolish mistake.


Asked on 4/20/09, 6:40 pm

1 Answer from Attorneys
Daniel Meek Daniel W. Meek

Re: co-owned home

You say you purchased the house, and you are the owner of it. Co-sigining a loan does not by itself make the other person an owner of the house. As owner, you can evict the tenant. If the tenant will not leave, you can use a court process called FED for "forcible entry and detainer." You obtain a court order, and the county sheriff compels the tenant to vacate the house.

If your tenant is on the deed as a part owner of the house, then you have different problems. If so, pleae resubmit your question.

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Answered on 4/20/09, 8:16 pm


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