How to keep the house that I bought with former boyfriend as tenants in common?
Get Legal Help Today
Compare Quotes From Top Companies and Save
Secured with SHA-256 Encryption
How to keep the house that I bought with former boyfriend as tenants in common?
About 10 months ago, my ex and I bought a house as tenants in common. We are splitting up and I want to keep the house. What are the steps that I need to follow t do this?
Asked on February 19, 2019 under Real Estate Law, Colorado
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 5 years ago | Contributor
He'd have to sell you his 50% interest in the house: as tenants in common, you each had a 50% interest in the home. You can't make him give you his interest in the house anymore than you can make him give you his car, his computer, his anything else he owns: he must agree to sell it to you.
If he is willing to sell it and you wiling to buy it, then leaving aside the issue of a mortgage (see below), you just need a written contract saying that he will quitclaim his interest in the home to you in exchange for you paying him the agreed upon amount. Then after you pay, he does the quitclaim deed to you (and if he doesn't, you could sue him to enforce the contract and make him deed it to you).
If there is a mortgage, check its terms: most mortgage require that the mortgage be paid off before you transfer the property. So in this case, you'd probably have to refinance in your name only as part of taking ownership.
IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.