Legal Question in Real Estate Law in Pennsylvania

Bought a house with someone they do not want to sell Can I force them?

I bought a home approx 4.5 yrs ago with someone as joint owners (Unmarried). The realtor we bought it from actually is the mortgagor. It was a 5 year balloon mortgage with the intent to sell or refinance in 5 years. The deed is in both of our name and our mortgage is paid to this realtor.

I have moved from the property approx 1 month ago. The other person is refusing to sell and does not have a good enough job to refinance at the present time. The real estate has said they would extend the 5 year term if needed. Is there anyway that I can force this other person to sell? I would like to get something in return for it I did put alot of money into the home. If he is able to refinance am I held responsible for anything? Is my name removed if he is able to refinance?


Asked on 1/22/04, 4:19 pm

1 Answer from Attorneys
Gerald Hershenson Law Office of Gerald M. Hershenson

Re: Bought a house with someone they do not want to sell Can I force them?

You can force a sale if there is no agreement. You would have to consult legal counsel to bring an action in Partition. The property would be sold. Is there equity in the property? The expense may not justify this action. If there is a refinance the deed would have to be transfered to the person who refinances. It does not make sense to leave one party liable for the mortgage. Since this is a private individual who holds the mortgage you can request to be relieved of personal liability on the mortgage. This can be done by a modification agreement. You should have your name removed from title. There will be a transfer tax on your one half interest that will have to be paid. If I can be of any assistence, please call. Gerald Hershenson Esq. 215-579-9390

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Answered on 1/22/04, 4:31 pm


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