Legal Question in Real Estate Law in Pennsylvania
Shared ownership of property
I am half owner of a single dwelling house. The other owner occupies the house and does not pay me rent. The other owner pays the mortgage, school taxes and real estate taxes. The other owner feels I should be paying towards the mortgage and taxes but I do not reside in the house and do not require them to pay me rent. We have no written agreements. What are the legal ramifications? (i.e. after a period of time of not paying the mortgage or taxes, can I lose my half ownership of the property?) Is there anyway the other owner can force me to pay?
1 Answer from Attorneys
Re: Shared ownership of property
You can not lose title to the property for failing to contribute. However, you might want to investigate what the fair rental value of the property is at the current time. I am sure that you will probably discover that it exceeds the costs that the co-owner is paying in expenses. Your position is reasonable. You can claim one half the fair rental value less the expenses if challenged by the co-owner. I suggest you review all the issues with an attorney. You or the co-owner can force a sale of the property. However, I believe that it is in everyone best interest to negotiate a written understanding as the responsibility of payment of expenses and rental to avoid future conflict. If I can be of any assistence please let me know. Gerald Hershenson Esq. 215-579-9390