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Updated over 6 years ago on . Most recent reply

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20
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Reaz Alli
  • Production Manager
  • San Antonio, TX
1
Votes |
20
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Need advice on getting money out of a house me and ex purchased

Reaz Alli
  • Production Manager
  • San Antonio, TX
Posted
Help needed please! A year ago me and my ex girlfriend purchased a house. Her dad gave us the down payment, I paid $5,000 for closing and about $3,400 in updates on the house. When we separated I moved out, and we agreed on me getting back my money. She wants to refinance the house but doesn’t want to pay me until one day down the line when she sells it. So my money isn’t growing, it’s just going to sit there in the house for 30 years... with no ROI. She wants me to sign the refinance papers and a notarized letter saying I will get my money back when she sells the house. What can I do??Her father has lots of money and she’s acting like she can’t pay me a little $8,400.

Most Popular Reply

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10,250
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16,108
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Steve Vaughan#1 Personal Finance Contributor
  • Rental Property Investor
  • East Wenatchee, WA
16,108
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10,250
Posts
Steve Vaughan#1 Personal Finance Contributor
  • Rental Property Investor
  • East Wenatchee, WA
Replied
Originally posted by @Reaz Alli:
@Steve Vaughan

I believe both our names are on the title

I would consult a legal pro first, but my thinking as a TIC would be no, I'm not re-signing for the debt. I would want out, offering a quitclaim deed for my $8k. Let her rich dad be on Title with her if he wants to help.

Seek legal advice. A first-time  consult is sometimes just $40-$100.

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