Can I recoup my money on a downpayment of a house if my name is not on the deed?
Question Details: My fiance and I bought a house together almost 6 years ago. I put $7,000 towards the down payment. My name is not on the deed, only his. He is threatening to sell the home. Legally, can I recoup my $7,000 downpayment? Also, I do have proof of the money being transferred from my account to his.
If you are not on the deed, you are not an owner. If you are not an owner, you would only be entitled to money from the sale IF you have a written agreement with your fiance stating that in return for you puttng $7,000 towards the down payment, you will receive that money back or otherwise part of the sale proceeds when the house is sold. As a non-owner, if you don't have such a written agreement, you are not entitled to your money back: a court would conclude that you either gifted the money to your fiance or that you the money you contributed was essentially your payment for being allowed to live there 6 years.
Unfortunately, since your name is not on the deed you are not an owner, so you are not legally entitled to any proceeds from the sale of the house. The law will view the $7000 as either a loan or some form of "rent". Your only recourse here would be if you had a signed agreemnt as to the return of the $7000, which you apparently do not. I'm afraid that you will jsut have to hope that your ex-fiance will do the right thing by you.