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who owns the house?

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Guest	Posted: Fri Jan 23, 2009 12:44 pm    Post subject: who owns the house? Like 0 Dislike 0 If I purchase a home with my boyfriend and his name is on the loan, but both our names are on the deed, what happens later should we split up....who gets the house, equity,etc. we live in Texas
eric1 Community Expert Joined: 04 Jan 2009 Posts: 1511 226.93 Dollars($)	Posted: Sat Jan 24, 2009 7:50 am    Post subject: Like 0 Dislike 0 It sounds like you would split the equity after the house is sold. Did you have a written agreement between the two of you? _________________ Eric JFree Rate Quote, Stated Income Loans FHA RATE QUOTE Mortgage Rate Quote
Niicss Joined: 03 Oct 2005 Posts: 4834 Location: New Jersey 508.88 Dollars($)	Posted: Sat Jan 24, 2009 8:56 am    Post subject: Like 0 Dislike 0 Hi Guest If both of you are on the proeprty deed, then both of you will have equal ownership rights in the proeprty. In case of a split, the selling price of the property or the equity should be divided equally amongst both of you. As the loan is in your boyfriend's name, he will be responsible for paying the mortgage. Thanks.
elnoralittle Community Expert Joined: 01 Oct 2008 Posts: 285 Location: Maryland 26.35 Dollars($)	Posted: Sat Jan 24, 2009 11:17 am    Post subject: Like 0 Dislike 0 you both have equal ownership to the property. One of you needs to buyout or sell the property and split the proceeds. _________________ Elnora Little First Home Mortgage First in Customer Service! 301-437-5605

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