Posted on: 18th Apr, 2012 08:18 pm
one of my friends put his gf on the title to his home. she got a home equity loan for $80k and spent some of it on home improvements. now they are breaking off. at any rate he's not on the loan but she owns half of the house. she's saying that the only solution is selling the house. i don't believe she can force him to sell the house at all. she's not going to ruin her credit and has just about enough in 401k savings to satisfy the loan if sued by the bank. what are his options?
Welcome Benson,
It is true that your friend's GF cannot force him to sell off the property. If your friend wishes, he can transfer the property to his GF and ask for a certain sum of money to do so. Thus, she will be liable for buying him out. However, it is true that she won't be able to sell off the property without his approval if his name is mentioned on the property deed.
It is true that your friend's GF cannot force him to sell off the property. If your friend wishes, he can transfer the property to his GF and ask for a certain sum of money to do so. Thus, she will be liable for buying him out. However, it is true that she won't be able to sell off the property without his approval if his name is mentioned on the property deed.
Hi Benson!
Welcome to forums!
No one can force your friend to sell off the property. This is against law. If the girlfriend does so, then your friend can take legal actions against her.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
No one can force your friend to sell off the property. This is against law. If the girlfriend does so, then your friend can take legal actions against her.
Feel free to ask if you've further queries.
Sussane