A seemingly simple home purchase agreement between friends has turned into a bitter legal battle, with one homeowner facing a loss of nearly half a million dollars.
In an attempt to avoid skyrocketing home prices, Canadian resident Marc Lefebvre, 71, said he agreed to pay half of the mortgage on a home purchased by his friend.
He claimed the couple planned to sell the property and split the profits five years later. Now, seven years later, Lefebvre wants to pocket the return on his investment.
But she claimed her ‘true friend’ Hendrika Johanna Ross refused to sell and will not answer her calls.
She has now filed a lawsuit against Ross and his son Kyle Bradley Post, who also lives on the property.
Canadian Marc Lefebvre, 71, said he agreed to pay half the mortgage on a house his friend bought, with the plan to sell it and split the profits five years later. Pictured: The Maple Ridge home purchased in 2016 by Hendrika Johanna Ross
Marc Lefebvre, 71, a craftsman specializing in furniture and home improvements, considered his friend’s proposal to co-purchase the property a good investment.
The friends agreed to buy the Maple Ridge property in October 2016 for $545,000 ($398,433), the lawsuit states.
Lefebvre, a craftsman specializing in furniture and home improvement, said he believed Ross’s proposal to co-purchase the property would be a good investment as it would also provide accommodation for his friend.
Under this assumption, he allowed him to apply for the mortgage in his name.
When applying for the mortgage, Ross, a nurse, told her friend of decades that the bank said he didn’t qualify, but claimed she assured him he would still own half of the property even though it wouldn’t be listed on the property. qualification. .
He said he agreed to those terms.
But Lefebvre later discovered that Ross was listed as owning 99 percent of the deed property and that her son owned the remaining one percent, according to the lawsuit.
Lefebvre filed a lawsuit against her friend of almost 10 years, Hendrika Johanna Ross, and her son, Kyle Bradley Post.
The Sept. 20 lawsuit alleged that Ross, who met Lefebvre after he performed work on her daughter’s home in 2014, violated the couple’s ongoing agreement in various capacities.
The lawsuit claimed that Ross, who is believed to have submitted a down payment of $250,000 ($182,777), accepted Lefebvre’s initial contribution of $62,000 ($45,329) and informed him of his $245,000 ($179,119) secured mortgage.
Under their alleged agreement, Lefebvre said he would pay $2,500 ($1,828 USD) a month, plus annual lump sums of $10,000 ($7,311 USD) to $15,000 ($10,966 USD), to quickly pay off the loan, which is equal to his share of the house.
The ‘investment agreement’ supposedly agreed upon by the couple in 2016 listed the mortgage at the ‘secured’ valuation, but Lefebvre later discovered that Ross took out a mortgage for a much larger amount of $769,500 ($562,559 USD).
The plan was to pay off the $245,000 ($179,112) mortgage in five years and sell the property, according to the lawsuit, a milestone that now appears unattainable for the artisan.
Lefebvre’s lawsuit also alleges that both Ross and Pose used the mortgage “for their personal benefit” and not solely for its intended purpose, as she sues the mother-son duo for “fraudulent misrepresentation.”
Over the years, the father, grandfather and craftsman said he made several improvements to the Maple Ridge home, which is now valued between $730,000 and $880,000.
Lefebvre said he built a playhouse for Ross’ grandchildren and a deck with a barbecue shelter, among other things.
The father, grandfather and craftsman said he made several improvements to the Maple Ridge home over the years, including building a playhouse for Ross’ grandchildren and a deck with a barbecue shelter.
The estimated cost of all of his alleged improvements, which Lefebvre said “were not intended to be gifts,” amounted to a hefty $21,800 ($15,937), not including the cost of labor, according to the lawsuit.
Lefebvre is also seeking damages for breach of trust, breach of agreement and reasonable compensation, adding that the couple socialized every day and regularly shared dinners together.
In addition to the many improvements Lefebvre contributed, he said he contributed $14,000 ($10,235 USD) for half of the property taxes and insurance and an additional $8,000 ($5,849 USD) for new furniture under the impression that Ross would compensate him reasonably. ‘.
Seven years later, the house is now valued between $1 million and $1.2 million ($730,000 to $880,000 USD), which, if sold, would return the couple’s investment and leave them with an additional profit.
Ross reportedly agreed to sell the property in the summer or fall of 2024, before Lefebvre said he cut off communication with him entirely, leaving minimal options for the now massively out-of-pocket craftsman.
DailyMail.com was unable to contact the mother-son duo or Lefebvre for comment. Lefebvre said he is waiting for the case to be resolved before commenting, the National Mail reported.