Q: My sister bought a house and has her boyfriend on the deed. She fronted all minues and it’s on the note/ mort by herself
She lived 2 years on the house with her children, bouyftiend moved in and after 2 years she decided to buy the house. The money down was only hers and the mortgage and note are under her name. But the deed is actually on both names. They are braking up now, is he entitled to any monies?? There’s about $50k in equity. Please advice!
A: She should hire a lawyer. It was a foolish move to put him on title as people on title have a right to equity in prop\perty; regardless who signed the note and mortgage. The equity is the portion beyond that. He may be entitled to half depending on who paid what maintenance and improvements on the house. You should advise her to hire a lawyer if he is demanding money and not give her any advice as a non-lawyer
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