My ex-girlfriend won't refi the condo

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Latest post Tue, Jan 17 2017 10:55 AM by Drew. 13 replies.
  • Wed, Jan 4 2017 8:47 AM

    • jlb36
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    My ex-girlfriend won't refi the condo

    I moved out 11yrs ago...we lived there together for 3 years. She has not refiance after serval request to do so. She qualifies for a refi and has moved out of the condo into a new place. she is currently renting the condo out. I've noticed the past 6 months she has made late payments. Can someone please tell me what are my options. 

  • Wed, Jan 4 2017 8:57 AM In reply to

    Re: My ex-girlfriend won't refi the condo

    jlb36:
    I moved out 11yrs ago...we lived there together for 3 years. She has not refiance after serval request to do so.

    Let's back up and start from the beginning.

    It sounds like, approximately 14 years ago, you and your ex jointly purchased a condo.  Presumably, title was place in both of your names.  Correct?  And you financed the purchase with a loan in both of your names.  Correct?  And title and the loan are both still in both names.  Correct?  For the purpose of responding, I'll assume that all of these things are correct.

    For the past 11 years, who has been paying the mortgage, property taxes, insurance, and maintenance costs?

     

    jlb36:
    she is currently renting the condo out.

    Safe to assume you are not a party to the lease (even though, as a joint owner, you should be)?  Likewise safe to assume you are receiving none of the proceeds of the rental?

     

    jlb36:
    Can someone please tell me what are my options.

    For starters, it would be helpful to know why you moved out and have allowed this situation to exist for over a decade.  Also, do you and your ex have any sort of written agreement that governs your joint ownership of the condo?

    Once you answer my questions, I can more intelligently answer yours.

  • Wed, Jan 4 2017 9:19 AM In reply to

    • jlb36
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    Re: My ex-girlfriend won't refi the condo

    thanks for the response. 

    Yes my ex-girlfriend and i bought the condo 14years ago. Both of our names are on the deed and mortage. For the past 11years she has been paying all the bills (mortgage, property taxes, insurance, and maintenance costs). After all these years i assummed she was living in it. I recently found out that she has been renting it out for a few years now. I have not been receiving any proceed also i have not been claiming the condo on my taxes. 

    I moved out because we ended our relationship. We do not have any agreements in place.   

  • Wed, Jan 4 2017 3:10 PM In reply to

    • Drew
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    Re: My ex-girlfriend won't refi the condo

    You best start lining up your facts and options ....apparently you are on both the deed and the mortgage ...and to some extent she has been getting a free ride on your credit and equity .....if if her payments go under, you.are on the hook to pay, you credit goes under , and if it's not properly insured and some tenant gets injured or destroys the place..your ship will sink as well....your options may depend a lot on her financial ability to buy you out  and right now you have no clue why her payments are late or whatever .

    And no clue as to tenant situation...tenant may be innocent renter  or tenant may be getting an insider rate ...who knows? 

     



  • Wed, Jan 4 2017 4:10 PM In reply to

    Re: My ex-girlfriend won't refi the condo

    Ok.

    Joint owners of real property have certain obligations to each other notwithstanding the lack of any agreement governing their relationship as joint owners.  For example, since she has had exclusive possession of the premises, she has an obligation to account to you for 1/2 of the fair rental value.  However, she also has a right to contribution from you toward the mortgage, etc.  She hasn't paid or otherwise accounted to you, but she has been paying all of those bills.  Needless to say, I have no idea whether those amounts wash or whether one of you has some payment obligation to the other.

    Beyond that, you have a few options:  First, you could move back into the premises.  Obviously, thatt would cause problems with the current tenant and probably isn't something you'd want to do unless you're a masochist.  Second, you could continue to do what you've been doing for the past 11 years.  I wouldn't normally think that's a very good option, but it seems to have caused you little or no problem for over a decade.  Third, you could contact your ex and try to work out a deal whereby she buys you out or you jointly agree to sell the place and divide the proceeds.  Fourth, you could sue her for something called partition -- essentially a court-ordered sale of the property.

    For a lot of reasons, the third option is typically FAR better than the fourth option, but a partition action might be your only recourse if your ex won't step up and negotiate.  She has incentive to negotiate because a voluntary sale will most certainly net a larger sum for both of you than a court-ordered sale.  If you can't get her to step up and aren't content with maintaining the status quo, then I suggest you contact a local attorney who handles real estate litigation.

  • Wed, Jan 4 2017 6:36 PM In reply to

    • Drew
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    Re: My ex-girlfriend won't refi the condo

    OP ..perhaps,your EX didn't think you were all that serious about a refi or exit deal ...we're not there  ....but if you or, your best behaved invited 250 lb  friend who hates to shower or shave , pulls up in front of condo with a uHaul and starts to move in.....may set sparks off ....

    One might argue that your inaction is acquiescence to the status quo......and certainly if there is a truly innocent tenant in the mix , IF you sit on any action any too long once you learned she was not there and "her" tenant was there I'd argue to you acquiesced to that person having sole occupany rights 

    THird option above is truly better...perhaps with that uHaul sitting in driveway a solid written agreement can be reached .....have one ready , crafted by your lawyer .   Hey, for all we know it may be a sound investment property?  But it needs a sound written agreement .....

     

     



  • Thu, Jan 5 2017 8:15 AM In reply to

    Re: My ex-girlfriend won't refi the condo

    Well does she realize you have a vested interest in the property and that it is yours too? Maybe tell her you need your name off the mortgage and the deed and maybe offer to settle with her on the equity owed? Get an appraisal done on the property and find out how much is owed. I absolutely would not sign ANYTHING unless the property is being refi'd and you are getting your share. Send her a letter or meet with her and discuss options.

  • Thu, Jan 5 2017 12:03 PM In reply to

    • Drew
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    Re: My ex-girlfriend won't refi the condo

    For the sake of barter power I'd want a handle on who is tenant, end of lease date,,rent.  , when did lease start etc.  How far away is unit...drive over and ring doorbelll? 

    You want off the note and cash in hand before you sign off on deed..and ideally you ,want a written hold harmless,blessed by your attorney ...one of my pals signed off on deed and " suprise" ..the gal never did qualify for a refi....time to wise up. 

     



  • Thu, Jan 5 2017 5:29 PM In reply to

    Re: My ex-girlfriend won't refi the condo

    jlb36:
    She qualifies for a refi

    How do you know?  If she has a mortgage on her new place, maybe she doesn't qualify for a loan big enough to buy you out on your share of the condo.

    jlb36:
    I've noticed the past 6 months she has made late payments.

    Uh-oh.  On the plus side, her having paid the bills on time for so long probably did benefit your credit score.  But the late payments are almost certainly having the opposite effect.

    jlb36:
    Can someone please tell me what are my options.

    ca19lawyer2 pretty much covered it, I think.  Your only two options, as far as I'm aware, are to work something out between the two of you or to file a partition action (lawsuit to force a court-ordered sale).  In which state is the condo located?  Many states require the property be sold at auction, but others have better/more flexible rules that allow for a better sale price than a sheriff's sale will get you.

  • Thu, Jan 5 2017 6:24 PM In reply to

    • Drew
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    Re: My ex-girlfriend won't refi the condo

    OTher options may get messy or be non productive but they are not necessarily off the table :

    1. OP as co owner could move back in as well . ( EX can lease her share but not his share ) 

    2. OP could seek to have lease struck /voidable as he was a non party.. 

    3. OP could seek 1/2 the rents . 



  • Fri, Jan 6 2017 12:00 PM In reply to

    Re: My ex-girlfriend won't refi the condo

    Hi Drew,

    I guess I would not recommend OP try your 1. or 2. without first consulting a lawyer in the state where the condo is.  I would be surprised if the law would allow an innocent tenant's rights to be violated because of a dispute between co-owners.

    And 3. would of course come with the obligation to pay his share of all the expenses as well.

  • Fri, Jan 6 2017 5:49 PM In reply to

    • Drew
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    Re: My ex-girlfriend won't refi the condo

    I agree it's a likely mess...but what rights of the tenant ?   The co owner cannot lease out more rights than she holds...she may be quite free to lease her rights to any one she pleases ( absent some local laws about rentals ) but she does not hold a right of sole occupancy .   AT least in theory the OP can make use of unit he owns womany permission from other owner of her tenant ..just he cannot toss her tenant . THe tenant has all the rights he previously had to shared occupancy ...

    Her tenant may have a royal beef with her as LL if  tenant was promised sole occupancy in the lease  and the LL did not / could not deliver same .   ( I doubt the average tenant checks out the supposed owner/LL s offical capacity to lease a unit ...but it is a form of abuse in some areas ...folks who are not true owners or the tenant of the whole  or otherwise empowered  to sub lease ..lease out units and pocket the money 

    ..and at least as posted the female owner never sought common agreement with the OP to lease out the place as a whole .)  .

    In my jurisdiction an unwise  LL could run into all sorts of problems to lease out a unit wo a  pile of local code and license, and permit and tax issues...but I have no clue what is required in OPs jurisdiction.  BUt I'll bet the unit is not adaquately insured for rental operations . 

     



  • Sat, Jan 7 2017 6:58 AM In reply to

    • Drew
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    Re: My ex-girlfriend won't refi the condo

    OP...if note payments are more than just a few days late, red flags may be going up and other issues could tumble out of woodwork ....note may be callable if insurance lapses or usage changes to commercial , and insurance may lapse if unit is not owner occupied ...or you won't be covered if there is a claim while in commercial use .  You need to get a handle on what is going on. 

    AS a layman I don't think abandonment or adverse possession is an issue ..or even relevant ...and in MD it's a 20 year timeline as well...but you might be wise to physically be in there and have a record of same so that the 20 year time clock is interrupted and reset to zero and is out of picture . 

     

     



  • Tue, Jan 17 2017 10:55 AM In reply to

    • Drew
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    Re: My ex-girlfriend won't refi the condo

    About. 1/3 the counties in MD require some sort of LL license....you did check for same, if applicable .? 

    Lacking a required license , if such is case, can be a royal pain to LL if LL needs it it enforce rents  or terms of lease. 



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