Posted on: 08th Jul, 2011 02:26 pm
My boyfriend and I bought a property last year, both on title but only him on the mortgage loan. Now we broke up and he wants me to sign off the property. If I don't sign, what are the chances of me getting sued? Considering, if he offer monetary settlement how much is reasonable?
Mariene, a settlement equal to half of the equity that you have in the home is eminently fair. I'm not sure what you're worried about with being sued, but it would seem a perfect situation for the two of you inasmuch as you're not obligated on the promissory note.
An even exchange - your signature for a share of the equity - and that will eliminate all your mutual woes, presumably.
An even exchange - your signature for a share of the equity - and that will eliminate all your mutual woes, presumably.