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bearnspot · Joined: 23 Oct 2009 Posts: 1 1.37 Dollars($)

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?

sunnyca2009 · Joined: 04 Aug 2009 Posts: 1731 35.55 Dollars($)

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

jameshogg · Posted: Fri Oct 23, 2009 11:25 pm Post subject:

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

sunnyca2009 · Joined: 04 Aug 2009 Posts: 1731 35.55 Dollars($)

Thats correct

Both of them are owners of the property

raymond · Posted: Sat Oct 24, 2009 11:41 am Post subject:

The safest way is to refinance it so both of you are on note and title. Using a "land contract" is an alternative method. Be sure to use an experienced Real Estate Attorney if you do the land contract.

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Can you ste up a deed so that in order to sell the property BOTH co-owners have to agree to sell?