Right to profit on home sale if not on deed
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Right to profit on home sale if not on deed
My boyfriend and I bought a home together 7 years ago. At the time my credit wasn’t that great so my name was never put on the mortgage or deed. Unfortunately, we’re splitting up and selling the house. Although he claims he’ll split the profit from the sale of the house, do I have any rights to fight for it if he doesn’t follow through?
Asked on October 1, 2018 under Real Estate Law, New Hampshire
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 5 years ago | Contributor
No, unfortunately, you do not appear to have any rights:
1) If not on the deed, you are not an owner; as a non-owner, you have no right to a share of the profit or proceeds.
2) Due to a law in your state called the "Statute of Frauds," an agreement regarding the sale of real estate or an agreement that takes more than one year (that is, will not certainly be performed within one year) must be in writing to be enforceable, so unless you had a written contract with him, made before you provided your share of the money for the home, that in exchange for providing money, you would receive part of the equity when the home is sold, you do not have any enforceable or binding agreement that he'd have to pay you even though you are not an owner.
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