OT 2 people 1 house
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OT 2 people 1 house (by Donna [PA]) Sep 21, 2021 3:20 PM
       OT 2 people 1 house (by WMH [NC]) Sep 21, 2021 4:14 PM
       OT 2 people 1 house (by Frank [NJ]) Sep 21, 2021 4:16 PM
       OT 2 people 1 house (by Ken [NY]) Sep 21, 2021 5:15 PM
       OT 2 people 1 house (by Nicole [PA]) Sep 21, 2021 5:49 PM
       OT 2 people 1 house (by Vee [OH]) Sep 21, 2021 6:31 PM
       OT 2 people 1 house (by Allym [NJ]) Sep 21, 2021 6:48 PM
       OT 2 people 1 house (by Ray-N-Pa [PA]) Sep 21, 2021 9:49 PM
       OT 2 people 1 house (by dino [CA]) Sep 22, 2021 12:18 AM
       OT 2 people 1 house (by MAP [NY]) Sep 22, 2021 4:13 AM
       OT 2 people 1 house (by Donna [PA]) Sep 22, 2021 10:50 AM
       OT 2 people 1 house (by Donna [PA]) Sep 22, 2021 10:50 AM

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OT 2 people 1 house (by Donna [PA]) Posted on: Sep 21, 2021 3:20 PM
Message:

My friend bought a home at a tax sale with her now ex-boyfriend. She paid for the house with her money and he paid for a new roof to be put on.

Since then they have parted ways (about four years now) and she has been taking care of everything not residing in the house with no financial help from him at all.

She is now wanting to sell the property and both of their names are on the house.

She asked for my advise on what she should try and work out with the ex financially. If both names are on the house it would be split in half but I think she should get back either all of half of the money for upkeep bills and taxes.

I know eventually it's going to be settled with a lawyer being involved but just looking for some advice.

--70.158.xxx.xx




OT 2 people 1 house (by WMH [NC]) Posted on: Sep 21, 2021 4:14 PM
Message:

She needs to document every dollar she has spent on the place since purchase. So does he.

She needs to document tax benefits she has taken, and so does he, if any.

Then figure out the percentage due each based on dollars invested vs. profit.

It will end up in front of a judge, no doubt, so might as well get this done up front. --50.82.xxx.xxx




OT 2 people 1 house (by Frank [NJ]) Posted on: Sep 21, 2021 4:16 PM
Message:

The first thought I had after reading was: will the "doctrine of laches" apply here.

Next was absent a written agreement I would say its a 50/50 split --174.206.xxx.xxx




OT 2 people 1 house (by Ken [NY]) Posted on: Sep 21, 2021 5:15 PM
Message:

They will end up splitting it 50% 50% unless they make a different arrangement.They will both think they should get more for some reason.If they fight it out with lawyers then they will end up getting less,considering it was a tax house it probably isnt worth a whole lot to begin with.If she should be getting back half or all of the tax and upkeep money then he will say he should he getting rent from her for his portion of ownership.She needs to find out if he is even willing to sell. --72.231.xxx.xxx




OT 2 people 1 house (by Nicole [PA]) Posted on: Sep 21, 2021 5:49 PM
Message:

Both need a yellow tablet, a pencil with an eraser & a calculator. Both need to sit down at home, alone, and figure out what debits and credits they each have. They need to figure out what the house can sell for.

Then, they need to sit down together (perhaps someone sits with them if they won't be able to be level headed) and see the others numbers.

They need to then recalculate their own numbers after seeing the other's unknowns. Hopefully, they are both in the vicinity of each other.

If they hire lawyers, any profit will basically disappear after lawyer fees, they will want an appraisal, etc.

They made a VERY poor business and financial decision. It is going to cost them plenty to get out of this deal unless they can absolutely work with each other.

If she lived there or if she rented it, he is going to be entitled to something for that. Upkeep is different than upgrade so that is also a factor. --98.237.xxx.xx




OT 2 people 1 house (by Vee [OH]) Posted on: Sep 21, 2021 6:31 PM
Message:

That is 50 - 50 minus legal fees, presumably each will pay their own way. --76.188.xxx.xxx




OT 2 people 1 house (by Allym [NJ]) Posted on: Sep 21, 2021 6:48 PM
Message:

Similar thing with first husband and house. He paid for house and new roof. I paid taxes, living expenses renovations, painting etc. So I wrote the property division for the attorney at the divorce. Hubby got his money back for house and roof. I got the profit. My parents had loaned him money to purchase a building for his business so at closing he had to give them a check for their loan. The value of the property had gone up immensely so everyone got something better than what they put in. --108.24.xx.xx




OT 2 people 1 house (by Ray-N-Pa [PA]) Posted on: Sep 21, 2021 9:49 PM
Message:

With both names on the deed, both people will need to sign off on the sale. So out of fairness, it should be 50-50, but in things like this, things are not always fair.

Since you bought at the tax sale, are there other liens on the property? Also, just because there are two names on the deed, you can still just have one name on a mortgage. So it is time to legal up if you can't work this matter out --24.101.xxx.xxx




OT 2 people 1 house (by dino [CA]) Posted on: Sep 22, 2021 12:18 AM
Message:

Legal action is called partition lawsuit. Yes it can cost more than just settling it on their own but sometimes broken relationships require the lawyers and partition lawsuit since neither side is willing to give an inch.

--76.171.xxx.xxx




OT 2 people 1 house (by MAP [NY]) Posted on: Sep 22, 2021 4:13 AM
Message:

He can do what my totally naive husband did in his divorce from the ex (shrew). Sign a quit claim deed

In his case, the stay-in-bed ex contributed virtually nothing to the house; he paid for everything. taxes, mortgage, insurance, did all the remodeling but she sold it and kept the entire proceeds.

He did it to "just get it over with" and hoped it would help her to "play fair" with the children. It did not. --174.212.xxx.xx




OT 2 people 1 house (by Donna [PA]) Posted on: Sep 22, 2021 10:50 AM
Message:

Ray-N-Pa

She never mentioned any leins on the property and maybe she doesn't even know.

As far as mortgage there is none. I think she paid a few thousand at a tax sale for unpaid taxes.

I feel bad for her as the house sits empty and she is rooting the bill for everything and basically disappeared and is no help at all --172.58.xxx.xx




OT 2 people 1 house (by Donna [PA]) Posted on: Sep 22, 2021 10:50 AM
Message:

Ray-N-Pa

She never mentioned any leins on the property and maybe she doesn't even know.

As far as mortgage there is none. I think she paid a few thousand at a tax sale for unpaid taxes.

I feel bad for her as the house sits empty and she is rooting the bill for everything and basically disappeared and he is no help at all --172.58.xxx.xx



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