Q: 2 people listed on Deed to house, not married. Relationship dissolving: can one person ask for payout? or half value?
House purchased in MD together 19 months ago, paid cash, no mortgage. Does one person have legal right to ask for half of value or portion of value to remove name from deed? Or can one person be removed with no money exchanging hands?
A: If the two parties cannot come to an amicable resolution, either of them can bring an action in partition which is the forced sale of the real estate under the direction of the court for arms length fair value. Meanwhile, either of them is free to stop the proceeding by coming to their senses and buying the other one out.
A: While I need to pull and read title to be sure, it is very likely that you hold the house as tenants in common. If so, each has an undivided right to occupy the whole and each is liable jointly and severally for all unpaid taxes, fines for upkeep, and injuries, so, when moving apart, you really need to resolve title. If you cannot do it voluntarily (and then pay a real estate lawyer to record the new title), you can file for partition to sell the property and split the proceeds.
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