Legal Question in Real Estate Law in Virginia
Real estate conveyance
My husband and mother recently purchased a $75,000 building together. He paid 50,000 and she paid 25,000 toward the purchase. She handled the entire transaction, moving money from our business accounts to a seperate savings account used specifically for the closing purchase. It turns out that she named herself only on the title as owner by entirety. She wants us to buy her out of the remaining 25k but she refuses to deed the property to my husband and herself as joint owners. We need that collateral to buy her out of the remaining 25k. Can we (or he) put a lien on the property to secure the 50k that he put into it and what laws would cover that if so? What other recourse would there be?
2 Answers from Attorneys
Re: Real estate conveyance
No, your husband would have no legal basis to currently encumber this property with a lien since he has apparently yet to be awarded a judgment against your mother for the $50K by a court of proper jurisdiction.
He must first obtain this above-referenced judgment before he can file a lien against this property.
Re: Real estate conveyance
There is a process known as "lis pendens", a lien pending litigation, that may apply. I suggest your husband consult with an attorney.
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