Purchasing a home or other real property with another person, or multiple people, can be an attractive option because splitting the cost of down payments, closing costs and on-going payments make it more affordable. However, in many instances, the original plan for splitting ongoing costs and/or possession of the property fails.
Even though there may have been an agreement to split the ongoing costs of the purchased property, many co-owners find themselves paying for the entire cost of the mortgage, maintenance, and taxes, after other co-owners have “moved on.” What can happen, and frequently does happen, is that years later, the person who “moved on” comes back demanding their “half” of the property, while the co-owner that paid on-going costs and/or retained possession disputes the other party is owed this amount.
This is anything but a simple situation, and so the appropriate action in such a dispute is to have the relative rights and ownership of the property determined by the Court in a Quiet Title action. A Quiet Title action is a civil lawsuit in which the Court makes a determination as to the title to the property in question. Depending upon the facts a Court may find the parties have fractional ownership of title, or it may find only one of the parties has ownership. Quiet Title actions can be between family members, co-owners or co-borrowers who dispute each other’s interests in a particular property. These actions are important as they can clear questions about the title to the property. Disputes as to title can cause a Title Insurance Company to refuse to issue title insurance during a sale or refinance transaction, which can render a property unmarketable.
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Some of the facts that control the outcome of a Quiet Title action include, whether one or more parties renounced their ownership in the property; whether demands for payment of property related mortgages and/or expenses were made and went unpaid or were partially paid; how much money or work was put toward the property by each of the parties; how long the person who left resided at the property; and how long ago the property was abandoned by one or more of the parties.
When these situations happen, it is important to get a seasoned attorney with experience handling Quiet Title actions to help you evaluate your facts and determine whether a Quiet Title action is needed to determine the rights of the parties claiming an interest in the property.