Legal Question in Civil Litigation in Texas

i have a joint investment property with a friend of mine.she is a realtor. her credit was maxed out and she coaxed me into buying this property jointly with my name on the title with an understanding of selling the house soon,but market crashed and we are currently underwater.my fear is that she will stop paying because her name is not on the title.i cannot sustain the loss on my own.there was a verbal agreement between us to be partners.i do have a recorded proof of of our conversation where she has admitted her role and the partnership. My question is how enforceable is verbal agreement in texas , in case she breaks the agreement?can recorded conversation be a viable proof in court?

she is responsible to make monthly mortgage payment.she has made the payment late twice which has now reflected on my credit report,also she is getting almost$ 200 iin profit for rent.the details of whivh she doesnt share with me.i pay for the taxes and i want that to be used towards the taxes and she is unwilling to cooperate.what should i do?


Asked on 8/11/10, 2:42 pm

2 Answers from Attorneys
Joseph A. McDermott, III Attorney at Law

An oral partnership to develop real estate -- which it is what it sounds like you have -- is enforceable. You are entitled to all the information about the property and an accounting of the rentals. You likely need to have a lawyer make formal demand on your partner.

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Answered on 8/16/10, 2:55 pm
Keith Engelke Law Office of S. Keith Engelke

If she wrote checks to make the monthly mortgage payment, you have written evidence to support the partnership.

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Answered on 8/16/10, 4:41 pm


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