What am I entitled to?

[abhi]

I was not sure which forum to post this in. I apologize if it was the wrong choice but I needed some kind of input in this situation.

My ex and I were living common law for several years before we decided to purchase a home in 2002. On the mortgage there are three names: mine, his and his mother.

In October 2004, I moved out of the home and to another province because the relationship was just not working out for various reasons, but I kept my name on the mortgage. I didn't contribute anything to the property after the point that I left.

I want to have my name removed and be bought out. I would like to know how to determine what I am entitled to when being bought out of the mortgage. I'd like to add that when we signed the mortgage, we listed ourselves as "not a spouse." I'm not sure how that changes anything.

Any help is appreciated.

 

[seniorjudge]

EXACTLY how is the real estate titled? (In other words, tell us EXACTLY what it says on the deed.)

It is irrelevant who is on the mortgage (as far as title goes...of course it could make a difference when it comes to paying!)

 

[Duranie]

Well you are going to have to ask your ex to do a refinance and buy your portion out. If they refuse, you might have to take it to court to force a refi. This could hurt your credit as well if they are late on payments.

If you are on the deed, do not sign a quit claim unless it is being done in conjunction with a refi and you of course, getting your money.

 

[seniorjudge]

Well you are going to have to ask your ex to do a refinance and buy your portion out. If they refuse, you might have to take it to court to force a refi. This could hurt your credit as well if they are late on payments.

If you are on the deed, do not sign a quit claim unless it is being done in conjunction with a refi and you of course, getting your money.

I guess we will never find out how it's titled!

 

[abhi]

I'm sorry. I haven't been able to come check the forums. Thank you so much for the replies.

seniorjudge: I am right now trying to get a copy of the Deed sent out to me for my own records so it won't be until next week before I have actual documentation that says what I need to know, but I do believe all three of our names are on it. I hate to admit it, but when we bought the house I was young and not very knowledgable in any of this so I didn't take note of these things.

Duranie: What exactly is my portion though? Is it only the amount I paid during the time I stayed? Or do I get 1/3 of the amount the house was bought for? This is where I'm stumped. I keep hearing different things about what I should be getting/asking for.

 

[abhi]

I guess we will never find out how it's titled!

Hi there. I hope someone still looks at this. It was a lot of work to get the Deed out to me but it finally got here. All three of our names are on the property. What does this mean for me?