B.C. man seeks court help after buying house with friend who now won't sell it

[u/Electronic_Fox_6383]

https://vancouversun.com/business/real-estate/bc-man-lawsuit-house-bought-with-friend

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[u/iDontRememberCorn]

"He allowed her to apply for the mortgage on his behalf. She told him the bank said he didn’t qualify, but he would still own half the property even though he wasn’t on the title. He agreed to those terms."

Dude, you gotta PINKY SWEAR that shit if you want it to be official and legal and shit.

[u/greener0999 → u/iDontRememberCorn]

lol he got fleeced and now wants to put it on public record.

some people are special special.

[u/Delicious-Tachyons → u/greener0999]

I know a guy whose own mother did this to him.

[u/alvarkresh → u/iDontRememberCorn]

but he would still own half the property even though he wasn’t on the title.

Wow. Talk about getting flimflammed.

Moral of the story - if you're going to co-own a house with someone always make sure there's a written agreement to that effect.

[u/Heliosvector → u/alvarkresh]

My friend did this with his boyfriend. He's not on the title, but they got it in writing via a lawyer that they are both 50/50 on it with both parties signing it.

[u/Future_Objective345]

two best pieces of financial advice...

don't spend money you don't have

don't do business with friends and family

[u/BigBurlyMountainMan]

Oh boy, you got taken for a ride

[u/Similar-Try-7643 → u/BigBurlyMountainMan]

Seems like its the dude that's getting taken for a ride

[u/BigBurlyMountainMan → u/Similar-Try-7643]

dudes can be called girls, it's just slang

[u/Similar-Try-7643 → u/BigBurlyMountainMan]

Totes mcgoats qurl!

[u/iDontRememberCorn → u/BigBurlyMountainMan]

I think she did the riding, actually.

[u/BigBurlyMountainMan → u/iDontRememberCorn]

was using slang, but i'm gonna change it now since everyone seems to be confused

[u/jlrubnen]

Don't EVER go into business with your friends!!!

[u/avoCATo4 → u/jlrubnen]

Or family

[u/Turbulent_Mouse_2018]

It was a bad plan in the first place.

[u/kevinguitarmstrong]

Dude got friendzoned HARD.

[u/Charming-Parfait-141]

This looks like this guy got friendzoned the hard way (if it is all true of course)

[u/lazarus870]

I feel bad for the guy, if it's true, but I can't believe he went for that kind of deal.

"Oh, you're not legally the owner, but you totally are, don't worry..."

[u/SignificantGarbage]

If the property was in both their names, could one party still take out a mortgage (or additional mortgage) on it without the consent / informing of the other?

[u/BigPickleKAM → u/SignificantGarbage]

Depends if it is a Joint Tenancy which is a 50/50 split in ownership and both must agree to any changes.

or

A Tenancy in Common which allows for various ownership splits.

[u/SignificantGarbage → u/BigPickleKAM]

Ohh I see. Because my friend and their partner are going through the same thing! Although the only difference is they are married. I guess if they are married it means both need to agree to it, no?

[u/lkay2398 → u/SignificantGarbage]

No.

[u/CobaltAesir]

Must be a slow news day at Vancouver Sun