Maryland | Real Estate Law
Legal Question
repayment of downpayment
June 2004 I placed $7500.00 on a home construction. I got a friend to be a partner with me, but they had no money. I was not able to get the finance so my partner got the finance. Home went to settlement in March of 2005. We remained partners after the closing. I took care of the up keep of the house and paid the electic bill, they paid the mortgage. They said that they needed to pay thier part first to equal my 7500.00 before I would need to pay. In June I gave them a check to my half of the mortgage. They have not cashed the check not have they given the check back. In september my partner said that they have theirs and I have mine. Meaning I did not need the house. In October of 2005 my patners made me an offer of $14,000.00 to be my part of the project. This evening January 2nd they said they would give me $5000.00 Friday 6th January and $2500.00 later. I know that the house has a appraised for $125,000.00 more that we bought it and they are in the midst of refinacing to get equit out.
I would like to know what legal basis do I have to some of the equity in the home.
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Read More Answered By: Michelle Stawinski |
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