My parents are cosigners on my home. My parents have recently seperated. My father thinks that I have to give him part share in my home. He has never put a cent into it, including the mortgage. Can he do this?
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My parents are cosigners on my home. My parents have recently seperated. My father thinks that I have to give him part share in my home. He has never put a cent into it, including the mortgage. Can he do this?
Is he only on the mortgage? Or, is he on the deed?
I think he is on both.
That could be good. I am never going to sell. It is my retirement property.
You'll never need to refinance? Or, go into a nursing home? Or, get married/divorced?
No. Never going to refinance. House is almost paid off. It's a rental and the rent more than covers the cost of everything. My dad is old and will be gone. Married or not I will never sell.
If your Dad is a co-owner of the property, seems to me he is entitled to a share of your profits on renting the property out.
He isn't entitled to anything. He has never put one cent into. He will also never get anything out of it.