Legal Questions Q: My question is regarding a home that my boyfriend and I purchased 3 years ago. We are now splitting up, and he doesn’t want to give me my half, because he says I am not entitled. What are my next steps? How do I get what I deserve?
View Answer Q: I purchased a home with my brother and had my name taken off of the loan when we refinanced a few years back. Now, he wants to give it back to me to continue the mortgage payments in the form of a gift of equity, but I'm concerned about the tax implications. The home has doubled in value since we first purchased it, and the loan amount is less than half of the home’s market value. What should I do? What are the tax implications, especially for my county?
View Answer Q: I am currently living in my house with my ex-partner. The mortgage is under her name but we are both on the title. My credit wasn't the greatest so when we bought the house we used her name as the only one on the mortgage papers. We are now going to sell the house and go our separate ways. Since I invested as much into the house as she, am I entitled to my half when we sell the house? We stand to make a considerable profit due to the amount of updates, etc. Thank you!
View Answer Q: I’m in the middle of a divorce mediation. We have agreed on a division of assets and are having that agreement drawn up so that we can move ahead. Part of the agreement states that he is responsible for the mortgage until the house is sold. Will a lender use that contract to see that I am not responsible for the payment so that I can get credit to buy my own home? Or will I have to wait until the house sells and it doesn’t show up on my credit report?
View Answer Q: Is there any problem with a person not refinancing to get their ex off their loan (if not legally required in a divorce)? The person refinancing would have to deal with pre-payment penalties, fees, points, etc. What is the benefit to the person who is refinancing if they have no legal reason to refinance?
View Answer Q: My girlfriend and I are planning on buying a place. Her parents have enough money for a down payment, and I make enough to pay for the mortgage each month. Our range is $300,000. We want to sign some sort of a contract where if we break up we divide the condo fairly at the time of a sale. Any suggestions?
View Answer Q: My sister and her husband want to buy a house. Originally, the plan was to take out a loan on my parents’ home. My parents would technically "own" the home and my sister would pay the mortgage or "rent" from them. The city has a first time home buyers program which will give you $125K, but my sister and her husband don't qualify because of their income, and my parents don't qualify since they already own a home. I currently rent my parents back house. She asked me if I would apply for the city program and put the loan in my name. My sister has spoken to her loan officer and he said they will somehow figure out a way to get them into the home with my name, my parents’ name, or a combination of the three. I don't know how, if at all, this will affect me and whether this is a good idea or not. I am a single mother with three young boys. Will having this home in my name, but them living in it and paying for it, have a negative effect in any way?
View Answer Q: Hi -- not sure if you can help with this one but I thought I would try anyway. My brother purchased a house two years ago. Due to bad credit, his wife was not able to be on the mortgage so my father co-signed. After the transaction, my brother added his wife to the deed. Unfortunately, they are now divorcing. Who has legal ownership of the home, my brother and father or my brother and his wife?
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