CanI assume ownership of a property if a co-owner is not paying their share or not paying iton time?

Get Legal Help Today

Compare Quotes From Top Companies and Save

secured lock Secured with SHA-256 Encryption

CanI assume ownership of a property if a co-owner is not paying their share or not paying iton time?

I purchased a duplex with my husband’s cousin. He never pays his part on time and I have been covering him. We told him we wanted his part on or before the first of the month when it is due. He also has caused quite a bit of damage to the property; most likely more than he has paid into the house so far. We only purchased the house 1 1/2 years ago.

Asked on November 2, 2011 under Real Estate Law, Wisconsin

Answers:

FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 12 years ago | Contributor

If you have a partner in a home that is not paying his or her share of the expenses and have no written agreement as to the partnership, you cannot assume sole ownership of the property if a co-owner is not paying his or her share for its upkeep and debt load.

If you are paying that person's share, you have an equitable lien upon the property for what you have paid. I suggest that you and the husband's cousin enter into a written partnership agreement over the duplex prepared by a real estate attorney. In it, expenses need to be covered as well as reimbursement. As you can see, the partnership agreement should have been done and signed before the property was purchased. Good luck.


IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

Get Legal Help Today

Find the right lawyer for your legal issue.

secured lock Secured with SHA-256 Encryption