Asked by Michael Laib, Philadelphia, PA • Sun Jul 7, 2013
Currently I own a home with my brother and we have the house on the market with a realator. I received an offer on the house but, my brother is unable to find a home and would like to buy me out and stay in the home. I would like to know if there are any legal issue's I can face with the realator since, we would like to take it off the market and let him take ownership of it?
We both bought the house and pay half of everything. The mortgage is in my name and bank but, we are both on the deed. We were thinking since he is half owner that we could take it off the market and he could refinance the home so, everything could be put in his name and he would just pay me my share of what we would make from selling it. We just wanted to make sure there would be no legal issues since the realator currently has someone with an offer to buy. My thought process is since he is half owner then we are really not selling it and that we just need to pull it from the market. Any thoughts on this?
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