Legal Question in Real Estate Law in Texas

I am a co-owner of a condo that is paid off. My partner took a bank loan for 80% of the condo's value. Shouldn't my partner pay me interest since he is getting money from the bank for my half of the condo?


Asked on 2/28/11, 8:38 am

1 Answer from Attorneys
Brandy McIntyre Law Office of Brandy Reynolds McIntyre

If you are the legal deeded co-owner you should have had to sign to close on the bank loan that your partner took out. If this is some sort of business arrangement the amount you should receive is based on your agreements with your partner. However, if your name is on the deed the bank will require your signature before placing a lien on the property and then the amount of money issued at closing should go to both owners.

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Answered on 2/28/11, 11:45 am


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