How does real estate get divided in case of an unmarried couple?
Posted on January 13th, 2010 in Renting & Real Estate | 6 Comments »
Kokney asked:
The unmarried couple has both there names on the deed but only one person has put all the money into the real estate.
Redding Real Estate
The unmarried couple has both there names on the deed but only one person has put all the money into the real estate.
Redding Real Estate
6 Responses
Horses for Sale
well the only one person who put money into the real state has the right to get the property…
New Homes Texas
How about this:
Each person gets back the amount of money invested.
You both split the profits.
If there is a loss, you both get a percentage or a ratio of money invested.
DIY home building
According to the web-site of Fizber: , the one person who put all the money into the real estate must be able to prove that point. It may take a court of law to make the division of equity.
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Most states recognise Homestead Rights. Even though the couple wasn’t married, they still shared equal interests in the property. If the person who you claim didn’t contribute financially to the home retains a good enough lawyer, they could receive money for their time spent in the home. You say they didn’t contribute financially, but most likely they did. I have seen it happen many times, don’t think it wont. Be prepared for the worst just in case, that way you wont be disappointed. Good Luck!
Marathon FL Keys rentals
spammer
Carlstadt NJ Real Estate
Without a contract to the contrary the equity is split evenly. That’s why people put both names on the title, to guarantee an even split.