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Subject:
home equity and splitting up
Category: Family and Home > Home Asked by: mike1783-ga List Price: $25.00 |
Posted:
26 Feb 2005 13:19 PST
Expires: 28 Mar 2005 13:19 PST Question ID: 481433 |
Me and my girlfriend bought a house 1 year ago. We are know going to split. I put down 13000 dollars from a inhertience she put down nothing. My question is do i have to buy her out of the 13000 equity we had from that money or just any other equity that we have built up. I live in pennsylvania. |
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There is no answer at this time. |
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Subject:
Re: home equity and splitting up
From: emartin4444-ga on 10 Mar 2005 16:56 PST |
Now, I'm no lawyer; however, I do work at a Real Estate Appraisal firm in Southern California, and we appraise homes in this exact situation. I would say your need to buy out your former girlfriend depends on a couple of things. First, because she is you mention her as your girlfriend, I would assume there is no marriage involved. That would definitely work in your favor, because she would have no legal rights to YOUR property. BUT, if she co-signed to the mortgage, then even if she didn't put money down, I would assume she would have a right to be "bought out." But, if you two are not married and if her name isn't on the mortgage, I'd say you're pretty much home free. The best advice I can give is get a good lawyer if things start to get ugly. Best of luck to you! I hope your next relationship works out much better! =)(emartin4444, Accutech Evaluations, LLC) |
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