Legal Question in Real Estate Law in Pennsylvania
Real Estate Joint ownership
I have property with my ex husband. I assisted him financially with purchasing property in Pennsylvania (he relocated from NY). I currently still reside in NY. I would like to get out of this partnership and obtain my portion of the property. I wanted to resolve between us but he does not want to give my my portion. I need to know type of attorney to retain and since we reside in different states-should I retain lawyer where I reside or in the state the property is?
1 Answer from Attorneys
Re: Real Estate Joint ownership
If your divorce decree did not include a property settlement agreement, you will have to sue to "partition" the property. This is a court action in the County and State where the property is located, and it seeks that either your interest is bought out by the other owner, or a court-ordered sale with the net proceeds of sale being divided between you.
The costs of litigation often reduce or even eliminate any net profit, so it is always better to try to negotiate a buy-out. If your ex can qualify for a refinancing mortgage, he can use the proceeds of the mortgage to pay you for your interest and you would deed your interest in the property to him.
You case would be stronger if you have documentation (receipts, other evidence) of the contributions you made to purchase and maintain the property.
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