My father and I purchased a home 11 years ago and the deed is held as a Joint Tenants with Right of Survivorship. When we bought the home, my father and I put 30% and 70% respectively for downpayment and other closing costs. We have been splitting all the costs/expenses (mortgage, maintenance, etc) in that percentage related to the home. Now we're in the process of selling the home and my father is claiming that he should receive 50% of the proceeds of the sale. His argument is that the deed is held as Joint Tenants with Right of Survivorship, therefore we both have equal shares of the property. The terms of joint tenants are stated specifically in the deed of the property. What are my options to probe that even though the terms of joint tenants are stated specifically in the deed of the property, he only owns 30% of the home?
No. Joint tenants do not necessarily enjoy the same percentage of ownership. You may file a lawsuit to seek the judicial sale of the property and recover your contribution toward the acquisition of the property. You should contact a lawyer as soon as possible.
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I'm sorry to hear about the unfair position your father is taking, of course only after years of accepting only 30% of the burden. There are ways to address this that are unfortunately too lengthy, and too dependent on certain questions and facts we'd need from you, to discuss here. Definitely discuss with a good attorney. But in short, no, you shouldn't necessarily accept a simplistic 50/50 solution.
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