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Real Estate w/Divorce

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J

J Wells

Guest
What is the name of your state? ca
judge grants joint rights to a condo bought as an investment (1/2 to each party). i am interested in possibly buying the other half. I have been living and paying the mortgage & up-keep on the condo for the past 4 years. can this be taken into consideration when making an offer to buy the other share? the other party has spent $0.00 on the property. just needed this advice before making a call to the other party. thanks
 


vrzirn

Senior Member
Pretend you are a stranger renting the condo for fair market rate. Half of that would belong to your ex who would use it for her share of the mortgage.
If you paid all the taxes you would take half of the amount from her eventual equity share. You would also deduct half of the other maintenance expenses and HOA fees you paid.
The cash flow from the rent would either be positive or negative after all expenses are covered. Your ex is entitled to half of the appreciated equity.
Collect all your bills and cancelled checks for the period involved. Then do a little accounting and make your offer.
 

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