More details to this question:
My uncle and grandfather own a house that they and their families all lived in together. The relationship has gone awry, and my grandfather has taken things to a really bad turn, so of course, my uncle is trying to sell the home. The title is in my uncle's and grandfather's name, but the mortgage is only in my uncle's name. He is also solely responsible for the payments (meaning no one gives him money to pay; it is all his). Now that the house is sold, my grandfather is demanding half of whatever the profit is, even though he hasn't paid into it, and is only listed on the title. Can he do this? How can I best protect my uncle from losing everything is this situation?
4 ANSWERS
Business Planning Attorney serving Livonia, MI
at
Frederick & Frederick Attorneys at Law
Update Your Profile
Your uncle should be able to protect himself. Unfortunately, because the two are joint owners, they are legally entitled to half, unless a court decides otherwise, (or they agree otherwise). Your uncle could certainly sue for unjust enrichment or something along those lines. Whether it is worth doing so is another matter entirely, and something he should run by his attorney.
Answered on Jan 18th, 2013 at 5:30 AM
Real Property Attorney serving Utica, MI
at
Douglas A. Tull, P.C. Attorney at Law
Update Your Profile
Your uncle needs to see an attorney - or if he is not competent, his agent should, if he had a power of attorney - lacking either, perhaps you should seek to have yourself appointed as your uncle's conservator. If he is competent - then you don't need to act for him - he can - if property was co-owned and one co-owner paid on the mortgage when the other did not, the payer may well be entitled to receive the payments he made on the mortgage as a deduction from the net proceeds. As it is the mortgage note balance will be deducted so your uncle won't have to contribute to paying it off - the property will do so through the sale proceeds.
Answered on Jan 18th, 2013 at 5:30 AM
Appellate Attorney serving Grosse Pointe Farms, MI
at
Musilli Brennan Associates, PLLC
Update Your Profile
Need more details, and a review of the deed. Your uncle needs to see an attorney, it is his money which is at risk.
Answered on Jan 16th, 2013 at 9:07 PM
Estate Planning Attorney serving Marquette, MI
at
The Wideman Law Center, P.C.
Update Your Profile
The title determines the owners of the property not the mortgage. You may deduct some costs from grandfathers share, but he's still entitled to a share of the proceeds.
Answered on Jan 16th, 2013 at 8:07 PM