Updated about 5 years ago on . Most recent reply
Looking To Help A Good Person In A Tough Spot With Their Home
Trying to provide some good will to a great human in need.
This individual owns a two family in New Jersey 50/50 with a family member. Their relationship has went sour years ago. Up till two months ago both parties made their portion of the mortgage payment in a timely fashion for twenty years.
The other owner to be spiteful has not made several consecutive mortgage payments from June 2020.
The stoppage of payments is intentional. It is not due to Covid, loss of work or any sort of hardship.
It’s a severed family relationship that will not be repaired. There is no communication whatsoever for years.
The house is of significant value with a balance of <50k, however the paying owner has limited funds and is in a difficult overall financial spot.
Does the individual have any recourse or rights?
Thank you kindly. Your advice will be appreciated.
Most Popular Reply
Your friend's nuclear solution is to file an action for partition. Getting a letter from a lawyer threatening a partition action (possibly along with a claim for breach of fiduciary duty as this appears o be a partnership) unless payment is timely made may do the trick.