What are my legal rights to all profit from sale of property if I have an absent co-owner?
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What are my legal rights to all profit from sale of property if I have an absent co-owner?
I bought a house with another person and we both lived there, then they moved out. I have paid the mortgage, taxes, insurance and all other bills for the property for a year by myself; the other person has paid none of it and still does not live at the property. Now I want to sell the house. Does the other person get to claim money from the sale?
Asked on June 21, 2019 under Real Estate Law, Florida
Answers:
M.D., Member, California and New York Bar / FreeAdvice Contributing Attorney
Answered 4 years ago | Contributor
The fact is that, absent or not, a co-owner has the rights to their share of sale proceeds. This is true even if they have not paid the mortgage, insurance and other property related expenses (absent an agreement between them to the contrary).
M.D., Member, California and New York Bar / FreeAdvice Contributing Attorney
Answered 4 years ago | Contributor
The fact is that, absent or not, a co-owner has the rights to their share of sale proceeds. This is true even if they have not paid the mortgage, insurance and other property related expenses (absent an agreement between them to the contrary).
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