Q: Share of equity if partner leaves.
My ex boyfriend and I built a house together. His credit was not very good so it is entirely in my name. I also was the one to put the down payment on the house (roughly $80,000). We spent the last 3 years building the house (my two daughters live here as well), but then he left us and the house to further his career. He now has a house in another state where he works and has been gone for over 6 months. He is wanting half of the equity when I sell the house (it is listed) and will not remove his property without a contract stating such. He has construction material, vehicles, trailers, etc. here. What do I do, and should he receive equity from the house given the labor he has put into it? I have paid the full mortgage each month and he has paid utilities and other small bills.
A:
There is no one ‘easy’ answer.
Did you put anything in writing — like a lease or a ‘buy-sell agreement’? Did he buy building materials or out ‘sweat equity’ into it?
This is a situation fraught with uncertainty but if his name was not on the deed or the mortgage why would you legally need him to sign off on the sale?
I’d strongly urge you to consult with a local real estate attorney to review ALL the paperwork from the mortgage and purchase and work through all the details.
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