Q: I bought out my partner's ex from the home they owned. Now she claims I don't have any equity in the property.
The buy-out amount was calculated as (Home Value - Mortgage) / 2. She now claims because I didn't put any physical money down as you would in a downpayment, that she keeps all the equity in the property when we sell. My name is on title as joint tenant and partition action has been filed, along with unjust enrichment.
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A: A better question is are you are the title? If so, then her equity argument might be out the window. In short, you need to talk to an attorney to determine if you have a property interest, what that might be, and so on. This could be a potential partition case, breach of contract case, unjust enrichment case, or nothing. But you need to flush out the details to find out.
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A: when a co-owner of the property wants to sell the property and the other co-owners refuse, the co-owner who wants to sell can file a partition action with the court. A partition action is a legal proceeding to divide the property among the co-owners.
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