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RealEstateAnswer, Lawyer
Category: Real Estate Law
Satisfied Customers: 23435
Experience:  9+ years in handling Leases, Landlord-Tenant, Foreclosures,Mortgages, and Eviction cases
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Hi I am Rhonda, I Live in the state of Maine. I bought a house

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Hi I am Rhonda, I Live in the state of Maine. I bought a house me being the primary loan Borrower. I paid for the house payment myself for the 1st 7 years. We broke up 6 years ago and he has been living in the house and paying the payment. I have been trying to get him to buy my share out. He has had more excuses, Busy, work,etc etc. What do you suggest I do To get my share of the home?
Hi! I will be the professional that will be helping you today. I look forward to providing you with information to help solve your problem.

Good evening. I certainly understand the situation and your concern. Are you in need of the money, which is why you want him to buy you out? Also, is the loan current and he pays it in full each month?
Customer: replied 3 years ago.

I moved out. and bought my own home. He wants to stay in the home. Why should I let him stay in that home and me get nothing?



Thank you for the additional information. If you are on title to the home and he is currently paying the mortgage each month, equity is being accumulate. While a majority of the mortgage payments goes to the interest on the loan, a small percentage gets applied to the principle. Moreover, with market conditions increasing, the value of the home is likely to increase over time. As such, as long as he is paying on the loan, you are potentially obtaining more equity. Of course, you have a legal right in the home and if you no longer want anything to do with him, can ask that he buy you out, at an agreed upon price. However, he can not be forced to at this time and only through order of the court, can the property be sold, through a force sale/partition, if neither party can agree on what to do with it. The burden would be on you, as the moving party, to show the Judge why the property must be sold. The Judge can not force him to buy the property from you, since he may not be able to afford it nor qualify for a loan. As such, if you can not work anything out with him, the next option would be to try and force a sale, with the proceeds being shared. The problem you are going through is very common, when two non-married parties buy a home together, break up and one wants to sell or be bought out and the other does not. The court has to step in to try and resolve the situation, if possible.

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