Q: If I am unmarried and own a house (on title and mortgage) with with my ex-boyfriend am I entitled to half the equity?
There was no agreement in writing when we bought the home on who pays what. He is keeping the home and wants me to sign off.
A:
This is such a common issue. When love fails, it often leaves a forced business partnership that must be terminated.
If you are on title, you are a co-owner. If you were unmarried, it is possible that the deed designates what percentage of ownership you were granted, if not 50%.
The co-owners can make claims against each other for reimbursement of costs that should be shared. And that can be a messy process (who paid the insurance, who paid the mortgage, who paid for repairs, etc.)
If a split can't be negotiated, there is a court action called "partition" that forces the sale of the property, and where the expense claims can be litigated.
Good luck!
A: In the absence of an agreement to the contrary, a partnership arises at law, and the presumption is that losses are divided equally and gains follow losses. You need an appraisal and representation.
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