A partner and I purchased a house to ultimately renovate and sell. The tax bill for the dwelling is in both our names. There is no loan; only a verbal agreement that we are to be 50/50 partners. My partner (unknown until the paperwork arrived) quit claimed the property to me. I do not want to solely be responsible for the taxes, insurance and maintenance as that was not the verbal agreement. Can he just quit claim it over to me and I have to take responsibility? Can I just quit claim it back to him?
Real Estate Attorney
You can quitclaim it back and he can then quitclaim it back and you can continue the merry-go-round until you both get dizzy. Alternatively, you and he can discuss the situation and figure out how to deal with the partnership. Even if you paid the full amount of taxes he would still owe you half under the partnership agreement.
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General Practice Lawyer
You may also argue that acceptance is a required element of the conveyance, but that still leaves you with clearing up the title issue. If you cannot work it out promptly, see an attorney before it gets more involved.
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