Legal Question in Wills and Trusts in Pennsylvania
bought my grandparents house with my boyfriend after we had our daughter with the agreement they can live there ..they sold the house to me for 140000 with no payment down because there was 40000 in equity and only paying for 2 years which he had 8000 invested how much do i have to give him to buy him out? plus he took 10000 to pay a bill he had
1 Answer from Attorneys
Not sure why this is classed as a probate issue. Probate concerns the transfer of property from dead people to the living. I assume that you either bought the home from your grandparents' while they were alive or you bought it after they had deceased from the heirs/beneficiaries or their estate.
However, the issue no longer concerns probate; its unclear from your post, but you seem to be suggesting that the relationship with the boyfriend is over and he is claiming a piece of the realty. If that is the case, you would need either a family lawyer or more probably a real estate lawyer if the boyfriend's name is on the deed to the property.
The big issue is whose name is on the title? If yours solely, then you do not have to buy anyone out. Your boyfriend is not entitled to marital rights because you are not married. The only possible way he would be entitled to share in the home is if you and your boyfriend had some kind of agreement regarding the disposition of any property in the event that you ceased your relationship.
If you and your boyfriend bought the home jointly and both of you are on the deed to the property as tenants in common, then you would have to buy out his share of the equity in the property. You go by current market value, not what is left remaining on the selling price/mortgage and not what you bought it for. First, determine what it is worth. Now deduct any unpaid purchase price mortgage. What is left is equity. He is entitled to 1/2 of that. If he contributed an extra $8000 (not sure how as you claim there was no downpayment), you would add his contributions to his share. What about rent? He did not have a right to live there rent free. Deduct his share of the "rent" unless there waws some other arrangement whereby he paid bills or bought food in lieu of rent. Whatever is left is what you would owe him.
It not clear what you mean by "he took $10,000 to pay a bill." So he put $8000 in but took out $10,000? So he owes you $2000? Assuming that is the case, then you would deduct any money he owes you from his share of the equity to arrive at a total.
Bottom line - this forum is not a substitute for obtaining a consult with legal counsel because there is a lot of information which is unclear. If you have a partnership agreement governing your relationship and the termination of it, then see a family law attorney. If you don't have an agreement and his name is on the real property, then see a real estate lawyer. In the best case of all, his name is not on the deed, in which case you do not owe him any money and you would not need to see anyone.
If you have a child in common, I would recommend seeing a family attorney to discuss child support and any custody/visitation issues if these aer in dispute.