If I co-own a home asJTWROS, can I rent my 50% to a third party withoutthe other co-owners’ permission?
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If I co-own a home asJTWROS, can I rent my 50% to a third party withoutthe other co-owners’ permission?
I co-own a home with my ex-girlfriend. The house has been listed for sale for 6 months with many showings but zero offers. I want to move out for employment out of state and to be out of this unhealthy living arrangement, but am being threatened with her letting the house foreclose if I move out. She wont move out and let me make the full mortgage payments. Can I move out and legally bring in a renter without her permission? (obviously it would be ideal is she did)
Asked on August 31, 2011 Colorado
Answers:
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
As a co-owner of the house that is listed for sale, you can rent out your interest to a third party as a tenant to occupy the property and help pay its monthly debt load after you move out.The problem is that you will need to disclose (preferably in writing) to any prospective tenant that the home will be occupied by your ex-girlfriend whcih could make renting it out somewhat problematic.
You do not need permission from your co-owner, however it would be prudent to put her on notice as to your intent. Should you obtain a renter, you should make clear that you are renting out a room in the written lease agreement as opposed to the entire unit in porder to avoid potential problems.
Good luck.
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