Homeownership Advice – Multiple Owners
Can anyone recommend a lawyer (or someone to go to for advice) regarding partial ownership of a property?
2 of us purchased a condo a few years ago, and both live in the property (friends only) – but we are now not getting along at all. I am looking to move out, however would not be able to afford another place and keep up with the mortgage payments/expenses of this property. I am fairly certain, my roommate will not be co-operative when I tell him I am moving out. I doubt he would be able to afford the place on his own, so I don’t think any sort of buyout would be an option.
Is there any process to force a sale? I really don’t expect him to co-operate or be willing to sell at all. We have not missed a mortgage payment or anything yet, but if I do move, I will not be able to continue the payments on top of the expenses from my new place, so what would happen if we default on the mortgage payments?
I am going to talk to him first before persuing any sort of legal action etc, but I just want to know what my options would be – if he is as uncooperative as I expect he will be. I prefer to be prepared.
Thanks in advance.