What is the name of your state? NJ
I'm a newbie here and hope someone might be able to help me.
My wife presented me recently with an excel breakdown of how she thought we should divide the house. I intend buying her out.
My wife out down $4800 more than me for the downpayment of our house. (she put 58% of the downpayment and me 42%) Now she wants the % of that in equity. This seems unfair to me but perhaps I just don't understand it. iow The difference between the value now and the current balance is around $160000. She wants 58% of that leaving me with the remaining 42%. What she calls the allocation of gain on % of down payment.
If she had left the money in her account she would have perhaps made 6% a year for 6 years and her original $4800 would now only be worth almost $7000
I guess what I am asking is am I obliged to pay her the 58% because she paid more downpayment or does this sound as odd to anyone here as it does me.
I'd greatly appreciate any advice on this. It kind of makes the difference between buying her out and just selling the house for me.
ThanksWhat is the name of your state?
I'm a newbie here and hope someone might be able to help me.
My wife presented me recently with an excel breakdown of how she thought we should divide the house. I intend buying her out.
My wife out down $4800 more than me for the downpayment of our house. (she put 58% of the downpayment and me 42%) Now she wants the % of that in equity. This seems unfair to me but perhaps I just don't understand it. iow The difference between the value now and the current balance is around $160000. She wants 58% of that leaving me with the remaining 42%. What she calls the allocation of gain on % of down payment.
If she had left the money in her account she would have perhaps made 6% a year for 6 years and her original $4800 would now only be worth almost $7000
I guess what I am asking is am I obliged to pay her the 58% because she paid more downpayment or does this sound as odd to anyone here as it does me.
I'd greatly appreciate any advice on this. It kind of makes the difference between buying her out and just selling the house for me.
ThanksWhat is the name of your state?