View Full Version : Splitting up
Jacqui12
Mar 12, 2013, 08:18 AM
My ex partner is refusing to sell our joint morgaged property Until I move out he refuses to buy me out and I know if I do move out he won't put the property on the market is their anything I can do
smoothy
Mar 12, 2013, 08:56 AM
Who's name or names is the actual DEED to the property in... thats what mattters the most.
If its in their name alone... they don't have to do anything... and you can't make them. (its the reverse if its in your name alone) if its got BOTH names on the DEED... then one of you can force a partition sale.
Jacqui12
Mar 12, 2013, 10:40 AM
The deeds are in joint names. What is a partition sale and how do I go about it please
smoothy
Mar 12, 2013, 10:54 AM
The deeds are in joint names. What is a partition sale and how do I go about it please
OK... Deed and Mortgage are two very different things... the Deeds specify ownership... the mortgage is only who agreed to pay for it... two different things. WIth both names on the Deed... partition sale can be forced.
I'm wanting to say Civil court would be involved in the partition sale... but I'm not certain and would rather wait for someone who is tell you for certain. And what all you need to do.
AK lawyer
Mar 12, 2013, 05:25 PM
OK...Deed and Mortgage are two very different things.....the Deeds specify ownership....the mortgage is only who agreed to pay for it....two different things. WIth both names on the Deed....partition sale can be forced.
I'm wanting to say Civil court would be involved in the partition sale...but I'm not certain and would rather wait for someone who is tell you for certain. And what all you need to do.
You are correct. Partition is a judicial remedy available for one of several people who own real property in common. You file suit asking that the property be put up for sale and that each of you gets a fair share of the proceeds.
The name is misleading because it usually doesn't result in the property being divided, although that is possible.
When there is a mortgage involved it's more complicated. Normally mortgages have "due on sale" clauses which provide that unless the bank agrees, the mortgage has to be paid off (or re-financed) when it is sold. If you have little or no equity in the property, a re-fi might be difficult.