My ex would like to buy me out of our home after seperation. What is fair?

Get Legal Help Today

 Secured with SHA-256 Encryption

My ex would like to buy me out of our home after seperation. What is fair?

My partner and I bought a home together a
year ago with my name only on the home. He
contributed a decent size down payment and I
made all the monthly payments and bills. We
are now broken up and he wants to buy me
out. What would a fair agreement be for selling
the home? Would I get half the equity?

Asked on December 5, 2017 under Real Estate Law, Colorado

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 3 years ago | Contributor

Ultimately, fair is what (more-or-less) satisfies the two of you. That said, a good way to go is to total up your respective contributions: how much you each put towards the down payment and also the monthly payments and bills you paid. Use that to form a ratio. Example: he put down $30k upfront; you have paid 12 months of mortgage and bills totalling $20k. Of the $50k paid total, he paid 60%; therefore, your fair share is 40%. You would get 40% of the equity in the home. This approach would take cognizance of your respective contributions. Again, though, whatever number (if any) the two of you can agree to is, by definition, "fair"--and whatever number is put into a written contract or agreement is enforceable.


IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

Get Legal Help Today

Find the right lawyer for your legal issue.

 Secured with SHA-256 Encryption