QUESTION
I own a property with my parent but they have not paid the mortgage for decades. Now the put 50% in a living trust. What are my options now?
Asked on May 24th, 2022 on Real Estate - California
More details to this question:
The property was originally bought by my parents but my living parent could not pay the mortgage so I’ve been paying it for years. Now we are not getting along and my greedy ass parent put 50% in a living trust. She hasn’t paid the mortgage payment since I’ve taken over. What are my options now?
2 ANSWERS
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Hello. You can force a sale through a "Partition" lawsuit and she would be forced to pay half the value of the rent until the sale takes place. She would also be forced to pay half of your attorney fees to force the sale. Usually the threat of a forced sale results in a settlement if one party is able to refinance and buy the other out.
Answered on May 30th, 2022 at 9:19 AM
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More information is needed, but if can't work it out with your living parent, you might have to file a lawsuit for 'quiet title.' But again, more information is needed.
Answered on May 25th, 2022 at 2:37 AM