If my partner and I purchased a house and I paid for the downpayment, can I claim it back if we were to sell the house?

Get Legal Help Today

 Secured with SHA-256 Encryption

If my partner and I purchased a house and I paid for the downpayment, can I claim it back if we were to sell the house?

We purchased the house together over 2years ago and may consider selling it. I paid the downpayment in full. We do not have anything in writing and the house is in both of our names. I just want to have a better understanding what I am entitled to should we sell the house – especially since only I contributed to the downpayment.

Asked on March 12, 2012 under Real Estate Law, Alaska

Answers:

FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 9 years ago | Contributor

If you placed the down for the purchase of the home that you own with your partner and he or she did not place any down payment, under the laws of all states in this country, if the unit is sold, you should be entitled to the return of your down payment in full for the sale proceeds before there is any division of the profits assuming there are profits.

I suggest that you get a copy of the check you placed into escrow for the down or some agreement by your partner that you placed the down out of your own money for the property's purchase.


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.

Get Legal Help Today

Find the right lawyer for your legal issue.

 Secured with SHA-256 Encryption