Legal Question in Real Estate Law in Virginia
Unmarried Couple Purchases House Jointly
An unmarried couple purchases a home jointly. Both names appearing on the loan equally. The couple finds they are not compatible and split. The woman in the couple refuses to agree to the sale of the joint owned property. The man placed $8,000 down on the home and the woman placed $500 down. The woman has recently quit the job that helped her to qualify as a co-owner and is now unemployed,meanwhile the man is now forced to pay the mortgage and all other bills associated with the home in order to protect his credit. The man would like to sell the property divide the proceeds and go their seperate ways. The property has 20k in equity. How can this be achieved?
1 Answer from Attorneys
Re: Unmarried Couple Purchases House Jointly
A court can order the sale of the property "in lieu of partition." Any co-owner has an almost unfettered right to this relief. See a real estate lawyer.