Promissory Note

1 Answers. Asked on Feb 26th, 2017 on Business Law - Pennsylvania
More details to this question:
My exboyfriend and I signed an agreement o that he would pay me 1/2 of down payment on a house If not paid within the year he would be removed from the deed and would have no interest. He has not paid on this and we are not living together. He has always threathened me if I did this. I am no longer listening to his threats and want to move forward. The agreement was signed and notarized. What are my chances?
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Answered on Feb 27th, 2017 at 7:56 AM

So even though he didn't pay up, did you still put his name on the deed?  I'd have to see the actual agreement to gauge your chances of success and options.  If he refused to convey his interest in the property to you upon request, your next best option would be to file a claim for either specific performance or to quiet the title to the property.  FYI, the transfer of his interest to you will be subject to realty transfer tax of 2% or more of the fair market value of his interest in the property and you'll probably have to pay that. 

I recommend that you seek out a local attorney for a more in depth discussion of the matter. I do not recommend that you take any action steps without such a consult. Act quickly because by waiting, you may lose certain rights and remedies available to you.

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