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  1. #1
    Join Date
    Sep 2016

    Default What to Do With Co-Owned Real Estate if Your Ex- Moves Away

    A woman in Florida was living with a man who purchased a home. He titled the home in both of their names, but the mortgage is only in his name. They own the home as tenants in common.

    About a year later he called her and said that he was leaving the country, and might never come back to the United States. He did not tell her what he wanted to do with the house.

    She is now wondering about her rights to the house, and what she should do.

  2. #2
    Join Date
    Sep 2005
    Behind a Desk

    Default Re: What to Do With Co-Owned Real Estate if Your Ex- Moves Away

    As a tenant in common, she has a 50% interest in the home.

    If she can track down her ex-, she can figure out what he wants to do with the home. For example, he may want her to sell the home, in which case he can grant her power of attorney for the sale and she can enlist the help of a real estate agent. Or she could buy out his interest.

    If she's not on the mortgage, she won't be affected by default, although she would eventually have to move out following foreclosure, so she can decide if she wants to pay the mortgage or if she prefers to default. If she remains in residence she will need to decide whether she is going to pay the property taxes, and will need to make sure that she has sufficient insurance to protect her interests.

    If she cannot find her boyfriend, she can go to court on an action for partition and sale, getting a court order permitting her to sell the home and keep her share of the equity. Whether or not it would make sense to do that depends upon the amount of equity in the home, as it can cost $thousands to complete an action for partition and sale.

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