mortgage with another person,without written agreement
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mortgage with another person,without written agreement
i have a mortgage with another party without a written agreement. The other party dedided to move out,and stop buying half of the mortgage. What can i do? Can i force the otherparty to pay half. we both signed the mortgage contract.
Asked on May 24, 2009 under Real Estate Law, Maryland
Answers:
B. B., Member, New Jersey Bar / FreeAdvice Contributing Attorney
Answered 14 years ago | Contributor
Like most people, when you are buying a home with someone else, things are good, and you think they will always be good, it's just human nature not to want to think of the worst. But, unfortunately, sometimes things go sour.
You really can't force the other person to pay half the mortgage, without anything in writing. You might not have any options other than to file a suit for partition, which would set the value of the other person's interest for a buy-out, or determine what share each of you would get after the property is sold.
Please talk to a real estate lawyer in your area, who can give you complete advice based on all the unique facts of your case, since there might be more to this story that turns out to make a difference. One place to look for an attorney is our website, http://attorneypages.com
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