Full question:
I seperated from my boyfriend of 6 years. Both our names are on the title and mortgage. We are not married. Do I have legal rights to half of the proceeds if the home is sold? How is this determined, and what are my rights? Do I have to pay him half of what I collect from renters if he left me? What if we are both paying the mortgage? Is he considered to have abandoned the property?
- Category: Real Property
- Subcategory: Sales
- Date:
- State: Arizona
Answer:
When the property is sold, co-owners typically share the proceeds equally. However, other factors may influence this division. If you collect rent from the property, you may not need to pay him half, especially if he has left. If both of you are paying the mortgage, it may complicate matters, but generally, he is not considered to have abandoned the property just because he left. Each situation can vary, so it's advisable to consult with a legal professional for personalized guidance.This content is for informational purposes only and is not legal advice. Legal statutes mentioned reflect the law at the time the content was written and may no longer be current. Always verify the latest version of the law before relying on it.