If my partner and I are not married but both of our names are on the deed of our house and we were to break up, what would happen to the house?
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If my partner and I are not married but both of our names are on the deed of our house and we were to break up, what would happen to the house?
My partner and I purchased a house together, so both of our names are on the deed. We aren’t planning to break up, but I just wanted to know what would happen if we did split down the road? Could either of us sell the house without the other’s permission? Could I legally force him to pay me 50$ of the equity in the house if we don’t sell it?
Asked on April 26, 2017 under Real Estate Law, New York
Answers:
M.D., Member, California and New York Bar / FreeAdvice Contributing Attorney
Answered 6 years ago | Contributor
There is a legal remedy employed when co-owners property cannot agree as to ownership matters; it is called "partition". In such an action, if a property can be divided, it will be. If it cannot be divided, then the court will order its sale with an equitable distribution of the proceeds. That having been said, before offering the property to the public, any owner who wants to keep the property will have the chance to buy out the other owner for fair market value.
M.D., Member, California and New York Bar / FreeAdvice Contributing Attorney
Answered 6 years ago | Contributor
There is a legal remedy employed when co-owners property cannot agree as to ownership matters; it is called "partition". In such an action, if a property can be divided, it will be. If it cannot be divided, then the court will order its sale with an equitable distribution of the proceeds. That having been said, before offering the property to the public, any owner who wants to keep the property will have the chance to buy out the other owner for fair market value.
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