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?
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.
1 lawyer agrees
Debt Collection Attorney
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.