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Allen M., Esq.
Allen M., Esq., Attorney
Category: Legal
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Experience:  Lawyer and legal specialist.
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I recently refinanced my home in order to buy out my friend

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I recently refinanced my home in order to "buy out" my friend who i had purchased the home with 2.5 yrs prior. In order to complete this transaction i had to pay a significant amount of money to my friend to compensate him for 1) his original downpayment, 2) his share of equity earned during ownership, and 3) minor payments for appliances, etc. The total amount comes to approximately 36K. These calculations can all be verified with financial records. Unfortunately, there were some gross miscalculations, and i actually paid my friend 47K. Unbelievable, I know but bare with me. This was partly due to a written contract that his brother, a lawyer, wrote up for us. It specified the amount that each of us paid for the downpayment. It exaggerated his portion my around $5k (i'm still trying to get a copy). I trustingly signed it. I'm not exactly sure where the rest of the diffence came from. I'm not sure if he will pay me willingly. Can i legally make him despite contract?
You ask an interesting question.

Contracts require a meeting of the minds. If the contract does not reflect what you agreed to, you certainly have to right to protest it....even though you signed it.

That being said, we sign contracts because it helps to memorialize in writing what we've agreed to. Often courts prefer to stick with what the contract says, utilizing the parole evidence rule (which means evidence of an agreement outside of the contract is not admissible).

Of course, the superior bargain position of the other individual (considering the his brother drafted the contract) is likely to be taken into consideration. If you can reach a solution through the individual, that is the best bet. Litigation, even when you are right, is expensive.
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