Q: I need assistance with a family dispute over real estate.
Hello,
I am looking for legal assistance to assist me in my efforts to dissolve a property I own with my daughter. We purchased the home on 9 September 2022. She and I were supposed to live there together but due to unforeseen circumstances we are not able to do-habitat.
The sale price, less realtor fees, taxes, etc., was $207,000. I transferred my daughter $38,000 for closing. She contributed $20,000 for closing. I paid the remains balance off at the end of. September 2022.
I sold the home I was living in and shipped all of my household items to the new home. The only items my daughter had prior to moving into the house were her bedroom set, mattress, plates, flatware, and pots and pans. All of wish I gifted her.
My ideal resolution would be to give her the $20,000 she helped to put down and have her name removed from the deed. I realize that is probably not going to be the outcome, but it’s a starting point.
A: Legally, if you could not come to an agreement regarding buying out her ownership interest in the property, you would need to seek a partition, which would split the property. If the property could not be split equitably, the court would order a sale of the property. If you want to avoid that, you will need to negotiate the transfer of your daughter's interest to you. Please feel free to reach out for a free consultation.
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