Q: 10 years co-owners on mortgage/title/deed. girlfriend wants to move out. Am I legally obligated to buy her out in PA
A:
Are you legally obligated? The answer is no. However, if you do not buy out her share and want to stay in the home then she can bring a partition action against you.
I suggest that if you want to keep the home, that you figure out what the home is worth, what the girlfriend's share of the equity in the home is worth and get the home refinanced solely in your name and in exchange, she sign a quitclaim deed and convey her share in the home to you along with you paying her the equity value of her share. However, if she is content with owning property jointly with you, you don't have to buy her out.
There are many problems with co-owning property jointly with someone you are not married to. If she leaves, since she is on the mortgage, the mortgage is reported on her credit and if you pay late or stop paying then her credit will be negatively affected. Also, even if there are no issues, if you someday want to sell your house, you will need her signature. And if the house goes up in value substantially, she is going to want a whole lot more. Even if you have been solely maintaining the home and paying the taxes, she is entitled to 1/2 of the rental value minus her share for taxes, insurance, mortgage and maintenance.
If neither of you can afford to buy out the share of the other or refi, then I suggest that you sell the home, split the net proceeds and each go your separate way.
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