One Couple Isn't Paying

Expert, localized Los Angeles answers provided by Heather Roy

One Couple Isn't Paying
	We own a vacation rental with 4 other couples. One of the couples has not paid any of their part of the expenses for repairs and upgrades we all agreed on. Since I pay all of the bills for the home, I have had to pay their portion from my own funds. I have talked to them and they say thay will pay, but it has been 6 months without anything being paid. Can we foreclose on them for non-payment? Can they just quit-claim their 20% ownership to the rest of us for a price?

	Of course the delinquent couple can sign off their share of ownership -- they can do that any time they want to. You just have to get them to agree. Otherwise, you may have to consult a lawyer to see what, if anything, can be done. You will remember, of course, that any co-owner is personally responsible for the entire property tax bill, and for any mortgage payment if you have one. So you can't leave one-fifth of the bills unapaid -- but it looks as if you realize that already.
	Edith Originally published on June 24, 2007

	Back to Summary	< Previous \| Next >


SEARCH: Search for questions about Mortgage, Finance & Taxes