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Buying out joint tenant; he originally requested $21 K in equity. Have proof via text. Now he wants more, can I hold him to txt?

Tracy, CA |

I'm buying out my joint tenant via refinance into solely my name; he originally requested $21 K in equity as payment for his half of the house. The only proof I have of his request is via a saved text message. He did also inform the Mortgage Broker that we are working with, that he wanted $21 K as well. Now he wants more money. Can I hold him to a text message as a contract? Or am I hosed?

Attorney Answers 2

  1. Best answer

    Disclaimer: The materials provided below are informational and should not be relied upon as legal advice.

    Unless you had a "Buy-Sell Agreement" of sorts in place from before, you need to negotiate with each other and on a buy out price. If he sent you a $21,000 text message and you accepted it within a reasonable time, then you probably have an agreement. If you did not accept within reasonable time or you made a counter-offer, then you are still negotiating. Be sure to consult your own attorney to protect your legal rights.

  2. no not unless you had an actual agreement. It sounds like you may have had a preliminary negotiation with him. If he does not want to take the money you will need to talk to a local lawyer about filing a partition action.