Re: Informal written property sale agreement

It is impossible to give you any definitive answer on how "binding" the agreement is without reviewing it. You should consult with a local real estate attorney who has the time to sit down with you and read the document in order to determine what your rights are. If you are going to stay with your boyfriend, you should at least ask him to sign a mutual agreement voiding buyout contract. After all, he has the best of both worlds in that he agreed to buy you out at a specific price AND he hasn't paid you. If the market value goes up signficantly, you are the one who loses out.

Re: Informal written property sale agreement

First, I agree with Mr. Starrett that reading the document and discussing with you the surrounding circumstances is essential to giving you a better assessment as to whether a court would order you to go through with a sale based on this informal writing.

If you don't have and can't easily get a copy, a guesswork reconstruction of its terms based upon your recollections would be better than nothing.

My hunch is that the writing would be treated as an option. Options usually have expiration dates. If an option doesn't contain an express date by which it must be exercised, the court could probably infer that the parties intended a "reasonable" expiration date, and go ahead and supply the missing date. Therefore, the longer time that passes, the less likely the agreement would be enforced.

There are certainly other theories that could be raised as defenses to a suit to require what is called "specific performance" of the agreement.

It would also be possible to seek cancellation of the agreement before he tries to enforce it, so you don't have it hanging over your head. The easiest way is to ask him to sign a short agreement cancelling it. A court can also be asked to nullify it based upon passage of time, duress, or other theories.

I note a Zip code that looks like Healdsburg? I'm about 45 minutes away, in West Marin, and most of my cases are in Sonoma County courts. Further, I specialize in "troubled co-ownership" cases and could give you a free initial consultation at your convenience.

Re: Informal written property sale agreement

So, if things are good between you two, why not simply ask him to confirm IN WRITING that the prior agreement is null and void. If he refuses, then you know that things are not as well as they seem or as you might want them to be.

As to enforceability of the document, it depends upon how it is worded. I would need to see it. But if it is worded correctly, it might be enforceable via court action.

No telling what it would cost to defend against such a case. Again, I would need to review the document.