I need assistance with how to obtain legal rights to my property back.
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I need assistance with how to obtain legal rights to my property back.
My house went into forclosure and my cousin offered to help me out with a loan to take it out of foreclosure.
-He had me sign a paper that reiterated our verbal agreement that we could acquire our property back when we paid him back the money plus interest.
-He had me sign a deed granting him 1/2 interest in the property for his assistance.
-He says that he has controlling interest and had his brother move in and only pay 1500.00 of the mortgage when we should have been able to rent it out for at least 2600.00 to help pay mortgage.
Asked on January 4, 2019 under Real Estate Law, Hawaii
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 5 years ago | Contributor
You may not have any rights to get the home back if your cousin is honoring the terms of the agreement he signed and given that you gave him a half-interest in the property, which makes him as much an owner as you and gives him a right to rent it out (the same as if you'd rented it out first, you could have set the rent: either owner may rent the space out). You can enforce the terms of your agreement, but that doesn't help you if they are already being honored.
The most you could do is bring a kind of legal action traditionally called an action "for partition" (your state may have a different name for it) in which you ask the court to force a sale of the house, with the proceeds being split between the owners: that is the law's only remedy for when the owners of real estate cannot decide on what to do with it--to force a sale and so dissolution of the joint ownership.
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