Legal Question in Real Estate Law in New York

I have an house with 2 separate owner. Owner 1st who is paying the mortgage and living in the house from past 10 years. I like to sell the house but 2nd owner is being difficult of not signing the papers. What options do I have if 2nd owner don't sign and Do I have to share the Dollar amount with 2nd owner even he has not paid any money for the house. His name is only on the paper work ?

Asked on 9/26/12, 9:21 am

1 Answer from Attorneys

Christopher Mitchell Law Offices of Laurence Kramer, PLLC

If both owner 1 and 2 are listed on the Deed to the property, then you will definitely need owner 2 to sign off on the sale before you can transfer property to a new party. Your options are limited to practically none if he refuses to sign unless there is some type of enforceable agreement between the two of you. Additionally, outside of any written agreement between you and owner 2, you are not legally obligated to share the sale proceeds with him, however, proceeds from the sale are likely the best way for you to leverage that person into agreeing to sign off on the sale.

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Answered on 10/02/12, 6:46 am

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