Legal Question in Real Estate Law in Pennsylvania

I need to get out of a house a bought

I purchased a house in 2005 with

someone else. He put of $60,000

downpayment and I put up 10,000

and then paid another 15,000 after I

sold the house I lived in. Totaling 25,

000 that I put in all together. I have

put in additonal monies in the the

renovation of the house

approximately $20,000 a piece for

each of us. We just refinanced last

spring to renovate. We bought the

house for 305,000 and refinanced for

50,000. What I want to know is

what is the split when we sell. I

want it to be 50/50, but he seems it

will be something other than that in

his favor. Can you answer this?


Asked on 3/22/09, 12:44 am

1 Answer from Attorneys
John Davidson Law Office of John A. Davidson

Re: I need to get out of a house a bought

I don't suppose you either of you wrote any agreement as to who gets what when the house sells.

That's what you should have done. Now what you need to do is sit down with your partner and come to an agreement as to how the proceeds from the sale of the property are to be divided.

If you don't you're going to spend lots of money on attorney's fees to straighten out this mess.

{John}

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Answered on 3/22/09, 11:32 pm


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