My boyfriend and I are trying to buy a house. I am on the mortgage but not on the title. Can I get any money on the sale of the house?
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My boyfriend and I are trying to buy a house. I am on the mortgage but not on the title. Can I get any money on the sale of the house?
I will bo on the mortgage as is my boyfriend. My boyfriend is on the deed, I am
not. Can I get any money out of the house sale legally if I lived there and
contributed to the upkeep? His parents supplied all of the down payment for the
house.
Asked on May 13, 2016 under Real Estate Law, Hawaii
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 7 years ago | Contributor
If you're not on the title, you are not an owner of the home: therefore, you are not entitled to any of the equity or proceeds from the house.
Living somewhere does not give you the right to any of its proceeds; and contributing to its upkeep does not either (unless there was a written agreement that in exchange for doing so, you will get a share of the sale), since the amount(s) you paid could be characterized or viewed simply as your share of life expenses or even your "rent" for living there, and not an investment in the property.
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