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Debra, Lawyer
Category: Canada Law
Satisfied Customers: 101414
Experience:  Lawyer
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I cosign a house mortgage of a friend. She defaulted over

Customer Question

I cosign a house mortgage of a friend. She defaulted over and over and finally left the property and told me that she cannot manage it. I paid for the mortgage for almost 5 years and she came back wanting the property back because now it has more value.
Can I sue for breach of contract? She is enriching herself after the fact. What can I do?
Submitted: 1 year ago.
Category: Canada Law
Expert:  Debra replied 1 year ago.

She is not entitled to the property any longer. Your agreement was clear and you paid for the mortgage all of these years.

You can tell her she is lost her rights to the property and you are happy to have a court decide but if you have to go to court you will seek an order for her costs as she is the one who wants to breach the contract.

Does that help as a starting point?

Customer: replied 1 year ago.
She has 99% ownership on the title and I have 1% only. She is claiming that she just asked me to take care of the property. Now because the property is appraised way up she wants to pay me out the amount I have spent minus rent.
Expert:  Debra replied 1 year ago.

You should likely retain a lawyer to threaten a lawsuit.

She abandoned the property and the bank would have closed and she would have lost it and if there was not enough equity the bank could have come after her for the difference.

Now that you save the property and took it on as if it was yours, as per your agreement, she cannot turn around and say she wants it back or wants an interest in it as that was not what was agreed upon and not what was happening the past 5 years. It was yours aside from your not being on title solely for this time.