ask george & chuck
April 13, 2009

Co-borrowers, for-sale signs
Answers to real estate questions as appearing
in the Houston Chronicle

Dear George: My fiancé and I bought a house together last year. Her name is on the loan, and she's on the deed of trust. After living in the house for one month, we broke off the engagement, and she moved out. My ex is now seeking legal help to seize full ownership of the house so she can sell it. I've been making the mortgage payments since the day we moved in. Also, I've been renting space in the house since she left, and she wants all the rental income, too. Is there anything I can do to keep the house?

Answer: Probably not. If she brings a suit to partition the property or to outright sell it, you'll likely have to split the gross rental income received and deduct all the expenses that can be charged against it to arrive at the net income. It can get fairly involved.

Dear George: Is a REALTOR® required to publish his phone number on a for-sale sign?

Answer: There are several requirements pertaining to for-sale signs. However, placing the REALTOR®'s phone number on the sign isn't one of them—unless a phone number is required by a municipal ordinance.

The Texas Real Estate Commission requires only that the owner of the property give his permission for the REALTOR® to place a for-sale sign on it. The Code of Ethics of the National Association of REALTORS® requires that same permission and also requires that the sign display the name of the REALTOR®'s firm.