I live in Virginia and several years ago my fiance' and I decided to buy a house together. Well due to certain DTI reasons the "other half" couldn't go the loan with me but is on the deed. The relationship is kind of shaky and am wondering if my "other half" leaves are they in anyway, held responsible for payment on this house since they are on the deed but not the loan or would I be stuck?

Fr_Chuck

You are basicly stuck if you have not ever gotten married, if you were married, you go though divorce court for court orders to who has to pay for what.

But in fact you could even have trouble evicting them from the house if they did not want to leave, since they are on the deed.
And to sell the home latter you will even have to buy them out.

hcaneib

so Fr_Chuck, you are saying that I could end up having to pay them off basically if I want to sell later down the road?

hchermak

If your bf is on the deed, he will have to sign off on deed in order for you to transfer the title(sell). Will he ask for proceeds or $$ in order to sign? You could try to get a quit claim deed from him -getting the title tranfered to your name only before you get to a closing table.

ScottGem

If he's not on the loan he isn't responsible for payment of it. If he's on the deed, he owns half the house. I'm very surprised a lender would underwrite a loan that all the owners were not party to.

He could actually sell his share to some third party.

ebaines

I don't see how your ex, if/when he leaves, could be held responsible for payments on a mortgage that ge never signed on to. He could be responsible for real estate taxes, but that's about it. However, depending on how the property is titled, and depending on what jurisdiction you live in, it may be that by having one party take out the mortgage the other party loses their joint tenancy. This may the case if the property was originally titled as Joint Tenancy. You may wan to consult an attorney in your area about this. However, usually when unmarried couples jointly buy a house the property is titled as Tenancy in Common (not Joint tenants), and in that case then each party owns half. If your partner decides to sell he could force you to sell your share as well, and the proceeds would be split 50/50. You also have a question as to who came up with the down payment - if you were married then your divorce proceedings would include a reconciliation of the down payment and payments made for major repairs, but in your case if you paid for these items I don't see how you'd get that back. If things aren't too rocky in your relationship yet, you may want to consider talking these things over with your (soon to be ex) fiance - maybe you can come to an amicable agreement.