Posted on: 23rd Oct, 2009 07:12 am
I am contemplating putting my partner as co-owner of my house. Is there a legal way to stipulate that BOTH owners would have to agree to selling the house in order for the sale to take place or that one owner could NOT force the other to but out his share? I have a friend that put his partner on the deed and they broke up shortly after and he had to sell the house and give the partner half of the proceeds. Is there a way to prevent this from happening?
When you have co-signer and when want to sell the property, by default both need to agree. If one of them do nto agree then you will not be able to seel it. At the end both need to sign the sale agreement
Hi bearnspot,
Once you add a person to the property deed, he/she becomes the co-owner of the property. Both the co-owner's have to agree for a sale as Sunny has suggested. Moreover, as both are the owners of the property, they would receive equal amounts from the sale proceeds.
Thanks
Once you add a person to the property deed, he/she becomes the co-owner of the property. Both the co-owner's have to agree for a sale as Sunny has suggested. Moreover, as both are the owners of the property, they would receive equal amounts from the sale proceeds.
Thanks
Thats correct
Both of them are owners of the property
Both of them are owners of the property
