If I own a house with a boy friend and we both paid 1/2 on everything how can I get out of the house
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If I own a house with a boy friend and we both paid 1/2 on everything how can I get out of the house
We both pay half on the house
payment..we both paid half on the
down payment. We are now not
getting along,how can I get out of
the house without lossing
everything?
Asked on October 27, 2018 under Real Estate Law, Indiana
Answers:
M.D., Member, California and New York Bar / FreeAdvice Contributing Attorney
Answered 5 years ago | Contributor
You can ask him to buy you out. If he refuses, then you can file for something known as a "partition". This is a legal remedy that courts employ when co-owners of property cannot agree as to ownership matters. Pursuant to such an action, the judge will order that the property be divided and each owner be given their share. However, when division is not possible (as in the case of a single family house), then the judge will order a "sale in lieu of partition". Accordingly, the property will be listed for sale on the open market. Once a fair market offer is made, then the property will be sold and the net proceeds will be distributed equitably. First, however, if one owner wnants to keep the property, then they can buy the other owner out.
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