Legal Question in Real Estate Law in Pennsylvania

Re: Joint ownership

You asked about what to do when faced with a breakup.

Well, essentially you have a partnership. And you are about to find out exactly how informal that partnership is. If you have any documentation of the relationship, purchases and expenses then you should collect it all and secure it immediately.

Then call an attorney. No kidding, get an attorney immediately.

There is nothing you can do to save the relationship. Divorce is not an option as you weren't married. Essentially Pennsylvania no longer recognizes common-law marriages. So the one thing you can do is save your assets.

Very likely you will need to liquidate the assets either voluntarily or involuntarily. Voluntary would be an agreed upon mutual sale where the assets are liquidated, the debts settled and the profits split by agreement.

The other alternative is to dissolve the partnership and seek partition of the assets. This can become a very messy situation or can go easily depending on the parties. The court will essentially split the baby. Each party will get about half the assets. In this case it could be a complete liquidation where all assets are liquidated (sold), the debts paid off, the profits pooled and then split 50-50. Or the court could send each party away with two properties of approximately equal value.

Generally the assets will be divided equally unless there is an agreement or overwhelming proof that the division should be otherwise.

Do not leave the common home until you have spoken with an attorney.

I would be happy to speak with you about this matter further. You may call me at 215.279.8940.

Regards,

Roger Traversa

email: [email protected]