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I live in KS. In Oct. 2005, I agreed to sell my home to a friend

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I live in KS. In Oct. 2005, I agreed to sell my home to a friend who wanted to buy it for investment& interest credit for income tax. It is joint ownership, not joint tenancy, with servivor rights. She currently lives in Honolulu, HI and has since 1980 and owned her own business until May,2008. She requested we refinace in Dec. 07 and ask me to do it in KS. as she did not have the time to do it there. The refinance was done with no problems and continues as joint property, my name first on the mortgage. She continues to make the mortgage payment and I continue to live here as per agreement and maintain the property.
Submitted: 6 years ago.
Category: Legal
Expert:  FloridaLawyer replied 6 years ago.

HelloCustomer

 

I'm not sure what your question is.

 

Thanks,

 

MDonnelly

Customer: replied 6 years ago.
Do I need to worry about being forced to sell the property under her petition filed in Sedgwick Co. , KS district court? What are my rights?
We are joint owners with servivors rights but not joint tenants. Both are legally responsible for the mortgage. She wants to force me to sell and I am waiting on Section 8 to have a place to move to.
Expert:  FloridaLawyer replied 6 years ago.
Customer

 

You and the woman are in fact joint tenants with rights of survivorship (JTROS) even though she does not live there. A concurrent estate or co-tenancy is a concept in property law, which describes the various ways in which property can be owned by more than one person at a given time. If more than one person own the same property, they are referred to as co-owners, co-tenants or joint tenants.

 

In this situation, the woman file a Petition sometimes referred to as an action for "Partition" and ask the court to order the property be sold so that she can receive her one-half interest. It sounds like you would have a good counter claim for the funds she took from the refinance.

 

I would definitely suggest retaining a property law attorney licensed to practice in your state who can defend you against the lawsuit.

 

Best of luck!

 

MDonnelly

 

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Legal Disclaimer: The answer provided herein is for informational purposes only and should not be considered legal advice. The information, research and opinions set forth above are limited to the facts presented in the question and no guarantee is made regarding the adequacy or accuracy of the answer. The answer provided does not infer or imply the establishment or acceptance of any attorney-client relationship. No claim is made that I am licensed to practice law in the state or jurisdiction where this information is being provided and you should always seek legal counsel admitted to practice in your local jurisdiction for representation and advice on any legal matter.

FloridaLawyer, Attorney
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Experience: Former State Prosecutor, criminal defense, family law, real estate, & civil litigation
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