mechanic lien? or?

[katiekate32]

What is the name of your state (only U.S. law)? NY

In 2007 my son, his wife, and I signed and notarized an agreement concerning the purchase and renovation of a house.

The house was a total disaster.

The deal was..my son provides the money for purchase and renovation..I provide the labor. We split the profit.

The total dollars into the house is $210,000. The house was appraised by the bank in January for $300,000.

Now my son says he isn't selling, he will live there himself. Further, he says that including all the interest he paid on money he borrowed..the total is really $260,000..and that is what he is paying for the place...so..no profit.

I feel that since he agreed to bring the money to the table and I agreed to bring the labor to the table.....he should not get to count the cost of the money..If don't get to count the cost of 4 years of labor. So, he doesn't get to count 4 years of interest.

I feel he owes me 50% of $90,000...or $45K. He says he owes me nothing because the house didn't sell for that..and he isn't paying that.

Can I put a mechanics lien on the house? Do I have to sue him first? Can I include all my legal costs in the lawsuit?

 

[HomeGuru]

What is the name of your state (only U.S. law)? NY

In 2007 my son, his wife, and I signed and notarized an agreement concerning the purchase and renovation of a house.

The house was a total disaster.

The deal was..my son provides the money for purchase and renovation..I provide the labor. We split the profit.

The total dollars into the house is $210,000. The house was appraised by the bank in January for $300,000.

Now my son says he isn't selling, he will live there himself. Further, he says that including all the interest he paid on money he borrowed..the total is really $260,000..and that is what he is paying for the place...so..no profit.

I feel that since he agreed to bring the money to the table and I agreed to bring the labor to the table.....he should not get to count the cost of the money..If don't get to count the cost of 4 years of labor. So, he doesn't get to count 4 years of interest.

I feel he owes me 50% of $90,000...or $45K. He says he owes me nothing because the house didn't sell for that..and he isn't paying that.

Can I put a mechanics lien on the house? Do I have to sue him first? Can I include all my legal costs in the lawsuit?

*A: are you a licensed architect, engineer or contractor? If no then the answer is no. You have to sue in court and if you win you get a judgement lien.

 

[katiekate32]

Once I have the judgement...can I put a lien on the house for that?

I am fairly sure in the next couple years he will sell that house and try to walk away with the profit.. I am equally sure he will never pay a judgement.

Frankly, anyone who would do this to their own Mom.. wouldn't have any issue with ignoring a judgement either

 

[HomeGuru]

Once I have the judgement...can I put a lien on the house for that?

I am fairly sure in the next couple years he will sell that house and try to walk away with the profit.. I am equally sure he will never pay a judgement.

Frankly, anyone who would do this to their own Mom.. wouldn't have any issue with ignoring a judgement either

**A: what does the notarized agreement state with respect to the sale of the property? How much are you claiming you are owed for your labor and what did the labor actually consist of?

 

[CalRehabber]

I would take him to court.. I'm pretty sure if you get a judgement you can put a lien on the house and any other property he has as well as have his paycheck garnished.

Sounds kind of like my son who I bought a motorcycle for so we can go riding, then he turned around and sold it.

Once I have the judgement...can I put a lien on the house for that?

I am fairly sure in the next couple years he will sell that house and try to walk away with the profit.. I am equally sure he will never pay a judgement.

Frankly, anyone who would do this to their own Mom.. wouldn't have any issue with ignoring a judgement either

 

[ecmst12]

How is the house titled?

 

[HomeGuru]

So many questions, so few answers.