Virginia Real Estate Legal Questions

You didn't need a lawyer to tell you, but you are in a pickle. A short sale only works if all of the owners are willing to sign a deed, and if the lender agrees to accept a reduced payoff on the deed of trust. You are on that loan until it is paid or released. You could file a  partition suit to force a sale of the property, but if it doesn't sell for enough to cover the deed of trust, you've wasted time and money.  Giving it to her and getting out: If you are eligible for bankruptcy, you could deed the property to her and file for bankruptcy to get rid of the debt, but it would do bad things to your credit, and your financial picture would need to be poor otherwise.    The only viable thing I see is for you to file a partition suit, after first talking with the bank to get assurance you can continue making payments on the loan; if you are the high bidder, she comes off the deed but not the loan. You can then control re-selling the property. All of this would involve a lot of time and legal fees. Of course, all of this presupposes you will be able to sue your mother, which obviously will have its own issues.  If you're otherwise eligible, filing bankruptcy might be the answer. My apologies for not being able to offer better solutions...but you are indeed in a pickle with no good answers.      ... Read More

Your best alternative is to simply move out but you will probably need to pay the last 2 months rent. Any fight that you would put up would cost you more in legal fees than the 2 months rent so I'd call the landlord, try to negotiate paying some lesser amount, and find another place.  It's not financially worthwhile for you to slug it out with lawyers on this one.... Read More

If your lien is inferior to another lien, for example if you hold a second deed of trust, a foreclosure under the first lien would wipe out your lien, but you would get paid any excess proceeds over and above the expenses and the payoff of the first lien, if any.  If the property is already "under water" on the first lien, your second lien is worth little although you have some bargaining power as they can't do a private sale unless you release your lien, making foreclosure their only option.  A short sale doesn't wipe out liens. A foreclosure wipes out any liens inferior to the one being foreclosed. ... Read More

His interest being transferred to you would probably considered a gift to you, with the gift being his share of the equity in the property.  As you are now the sole owner, in the future the income, expenses, etc. will all be reported on your return. A gift tax return may be needed if the gift exceeds the annual exclusion amount of $13,000.   ... Read More

Whether you are entitled to the deposit back will depend upon the terms of the contract. If you have a loan contingency, you are likely entitled to it but if there is no contingency upon getting a loan, you could be in default and not entitled to the return of your deposit.   Check your contract andf if you are entitled to the deposit, send a certified letter to the seller and the realtor requesting the deposit, with a copy to the Broker (frequently the owner of the real estate company). ... Read More

An individual always has the right to represent himself/herself.  However, I suggest you contact a local attorney to determine how complex your state's rules are with regards to transferring real estate before you undertake the enterprize yourself.    Please see: http://www.martindale.com/Results.aspx?ft=1&frm=freesearch&afs=real%20estate%20Pulaski%2C%20Virgina This is not intended to be legal advice, and is general in its nature. No attorney-client relationship exists or is formed by this information. Furthermore, this does not represent the views or opinions of LexisNexis or its affiliated companies.... Read More

You should immediately speak with a local real property attorney to discuss your situation.  There may be an issue with adverse possession of your property.  A local real property attorney will know the time period necessary to claim adverse possession, and can give you advice as to how to proceed. This is not intended to be legal advice, and is general in its nature. No attorney-client relationship exists or is formed by this information. Furthermore, this does not represent the views or opinions of LexisNexis or its affiliated companies.... Read More

I can't tell from your comments whether your real estate agent is holding the earnest money or if there is another agent involved who is holding the earnest money.   The amount in controversy probably does not justify getting an attorney involved unless you can prevail on one to simply write a letter to whatever agent is holding the money demanding a return of the funds.  That will sometimes work. Failing that, you probably have two possibilities remaining.  One would be to lodge a complaint with  your local Board of Realtors.  If you live in a community where the Board of Realtors is large enough to have an active and concerned Ethics Committee, there is some possibility that the committee would investigate and help to resolve the matter. Finally, your state probably has a Small Claims Court - a court to hear small claims -- claims too small to justify retaining an attorney but where a judge would hear the complaint and render a judgment just like a regular court would -- but it is handled in a more informal manner.  It is doubtful the real estate agent holding the funds would be willing to risk the publicity resulting from a judgment by the court.  If you go this route, you would obtain a complaint form from the clerk of the local court.  The clerk's office may or may not assist in filling the form out.  ... Read More

Please visit: http://www.lawyers.com/All-Areas-of-Law/Virginia/All-Cities/attorneys-and-law-firms.html?s=consumer%20rights&ns=y&st=q&form=LHOM This is not intended to be legal advice, and is general in its nature. No attorney-client relationship exists or is formed by this information. Furthermore, this does not represent the views or opinions of LexisNexis or its affiliated companies.... Read More

Your plight is a prime example of why it is not wise to purchase a home with someone who is not a spouse.  Your "buddy" does not appear to be your "buddy" any more.  You now have two problems.  One is legal and the other is practical.  As a practical matter, it is not feasible for you to comfortably live in the same house with another man and his wife/family.  To contemplate getting married and moving into such a house with a wife is an invitation to even more conflict.  In my humble opinion, it won't work!  Don't consider moving back into the house. Now for the legal part:  You are the owner of real property with someone else.  The realty can't be feasibly partitioned - that is, divided between you.  Therefore, I recommend (unless your former "buddy" agrees to buy you out) that you consult a good real estate attorney in the location of the house, and ask that he advise you on the mechanics and cost of a "Sale for Division."  In most states, there is a means to go to court and force a sale of real estate that the owners can't divide, and can't agree on a proper disposition.... Read More