Real Estate

PARENT / CHILD dispute over a home ownership and forced selling for equity share

  • Last Updated:
  • Nov 18th, 2019 4:47 am
[OP]
Member
User avatar
Sep 1, 2009
289 posts
218 upvotes
gta

PARENT / CHILD dispute over a home ownership and forced selling for equity share

I will MAKE THIS AS SHORT AS POSSIBLE.
My neighbor and a good friend came to me balling his eyes out. Poor guy! 70 years old person and i don't know how do i help him:(

Apparently, 5-6 years ago he was retired and wanted to invest in a house to leave something behind for his only grandson(5 yr old that time). he was working both in USA and Canada and didn't have great credit (may be) but enough money to put a downpayment on a house (20%) he bought a 4 bedroom 2 bathroom house ( small two-story bungalow type ) and made a joint property mortgage with his offspring that he has been paying from the beginning
they sign the documents and ownership together and started living in the same house but within 7 months this offspring runs off with his grandson to somewhere for the last four-five years and leaves this man high and dry without paying his/her share of mortgage or bills. somehow this man survives all that buy renting rooms to local students or short term tenants and with a pension.

Now, five-six years later this person came back claiming their half inequity and taking this old man to a court for it. lawyer says " my client has every right to claim his half in the house" and legally he may be right as they have a name on a property together but if we don't find a way to help this guy he will not survive this nasty blow.

please help me help this guy. please tell me how he can fight back. isn't this an elder abuse? :( my heart goes out to his situation but I want to help him . does anyone have any idea how to represent his side in court? he has a week left :( pooor pooor man!

can the court make him sale his house and whatever money after paying bank gets divided equally? that's not right ? can they do that?
“I swear by my life and my love of it that I will never live for the sake of another man, nor ask another man to live for mine.”-John Galt 😎
8 replies
Deal Guru
User avatar
Mar 9, 2007
12348 posts
7237 upvotes
Think of the Childre…
Seek legal advise.

WOULD SOMEBODY THINK OF THE CHILDREN!!!
Deal Addict
Apr 5, 2016
3948 posts
2569 upvotes
Calgary/Vancouver
Need to get your own lawyer. On paper, he has the right to claim his own ownership and it doesn't matter who was making the payments.
Current Fido customer.
Ex Koodo customer.
Deal Addict
Jan 15, 2017
2926 posts
2281 upvotes
I agree that he needs to see a lawyer. One thing that comes to mind is how ownership was registered. Was it joint tenants or tenants in common, as it may affect the ability to see the property.
Deal Fanatic
Feb 29, 2008
9878 posts
5182 upvotes
That is some sad stuff. They must have had a strained relationship previously for the kid to take off like that.
Deal Fanatic
Oct 7, 2007
6301 posts
2574 upvotes
I am not a lawyer but some considerations might be as follows:
1. Did the owners of the property have a signed agreement? If so, the courts may be bound to the terms of the agreement. If not, there is probably some law the courts will fall back on.
2. The situation could be settled between the parties using math. If the party that abandoned the senior was supposed to pay for some stuff but skipped out, this could be deducted from the amount owing on the property should they wish to sell the property and somehow divide something up.

Again, because this is a complex case involving a lot of money and family relationships, the elder is probably best served by seeking expert legal advice. My advice would be to really do your homework before choosing a lawyer and meet with at least 3 before deciding. There is a wide range of talent out there when it comes to what you get for your money.
Deal Addict
Dec 12, 2003
2050 posts
422 upvotes
Read: constructive trust, and seek legal advice
Sr. Member
Jun 7, 2017
814 posts
565 upvotes
BC
He waited 4-5 yrs while the other party missed his share of payments? Should have started action after 2 months. This fellow was chasing what he thought was easy money. Meh.
Deal Fanatic
Oct 7, 2010
8961 posts
1186 upvotes
What a sucker. Should had ask a lawyer when idoit son took off without paying his share, including legal action.

If you cant afford by yourself make sure you draft up an agreement if son doesnt pay or he doesn't pay then...

Old guy need to just give in. Is not like he survive long enough to enjoy all of it anyways.

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