Posted on: 23rd Jan, 2009 11:44 am
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
It sounds like you would split the equity after the house is sold. Did you have a written agreement between the two of you?
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.
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.
you both have equal ownership to the property. One of you needs to buyout or sell the property and split the proceeds.