We bought the house in March 2009 and the deed is under both of our names. We have put a lot of work into the house since it was a bank owned property. And we spent quite a bit of money just making the place look nicer.
He and his parents think we should rent it. I don't want to be tied into the house for that long... prolonging my relationship with him. I want to cut my losses and move on. He, of course, doesn't think that's a good idea. This is going to become a tough fight between us, because neither one of us seems to want to bend.
My discussions with a real estate agent have not made either option a very good one. We will lose money to sell it. If we rent, we could potentially lose some money. We would have to find some management company to take care of it and we would have to pay the first time home buyer tax credit back.
So I'm giving him the option to turn over my ownership to him and his parents. They can do whatever they want with the house and I will have no rights to it. I don't want anything from the house.
I see a not-so-fun conversation in the future.
Thankfully, my cousin and his boss who are attornies have offered to sit down and talk with me about my options and what is realistically involved with all of this. I'm so thankful for the people in my life!
Thankfully, my cousin and his boss who are attornies have offered to sit down and talk with me about my options and what is realistically involved with all of this. I'm so thankful for the people in my life!
I've wondered how that was going to work. Yikes! Sounds like a mess all around.
ReplyDeleteHaving good (and helpful) people in your life will definitely make this part of the experience a bit easier and less complicated...
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