Q: I bought my home in 2019.Refinanced 2021 and added BF to all aspects of loan.i have equity. what is he entitled to?
prior to him signing i had already gained $160k of equity. If we were to sell is he only entitled to what was gained from Refinance till now?
A: What was your agreement with your BF when he signed the loan documents in 2021? Did you convey title to him or did he merely sign the new mortgage? What, if anything, did he pay you for an interest in the property? Has he paid any mortgage payments, contributed to the upkeep and maintenance of the property or paid for any improvements? The disposition of the $160K increase in value depends on these factors. If you intend to sell, I suggest you come to an agreement with him and reduce it to writing. If not, consult an attorney who can give you specific advice as to your situation and legal proceedings for partition.
A: He was added to the Deed as a title holder either as a tenant in common or as a joint tenant most likely and would have the right to seek a Partition of his undivided interest and the portion of equity he contributed to would be either determined by agreement of the parties or through Court determination. Your argument that he should only have a a share of the equity post refinance seems reasonable and I wonder what was discussed between you when the refi was done and whether you exchanged any texts, emails, or postings or notes or memos as evidence of what was agreed upon.
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