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minky77

Junior Member
Ohio
Sally lives in a rented flat and so does Jon. Jon decides he wants to buy a house for them to live in and asks Sally if she would join him on the mortgage to enable him to acquire the loan. Sally agrees. But does not put any finance into the deal.

Sally does not move in. Sally decides to buy her own house. Sally is now unable to secure a loan with the usual ten percent deposit due to it now being her second mortgage. The loan now requires a fifteen percent deposit. Jon agrees to join Sally on the mortgage and put ten thousand pounds into the deal.

They now decide to sell both houses.

Is Jon entitled to any of the financial growth on the second house?.

Is Sally entitled to any of the financial growth on the first house?.

I would be interested to know peoples thoughts on this ...... Thanks!
 
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LdiJ

Senior Member
Ohio
Sally lives in a rented flat and so does Jon. Jon decides he wants to buy a house for them to live in and asks Sally if she would join him on the mortgage to enable him to acquire the loan. Sally agrees. But does not put any finance into the deal.

Sally does not move in. Sally decides to buy her own house. Sally is now unable to secure a loan with the usual ten percent deposit due to it now being her second mortgage. The loan now requires a fifteen percent deposit. Jon agrees to join Sally on the mortgage and put ten thousand pounds into the deal.

They now decide to sell both houses.

Is Jon entitled to any of the financial growth on the second house?.

Is Sally entitled to any of the financial growth on the first house?.

I would be interested to know peoples thoughts on this ...... Thanks!
Based on your wording I am pretty sure that this is not an Ohio case.

However, under the law in most US states, they would both be equally owners to both properties, therefore both entitiled to share the appreciation on both properties.
 

Ohiogal

Queen Bee
Ohio uses pounds in their monetary system? Cool. All that extra Ben & Jerry's will pay off then.
 

minky77

Junior Member
Very sharp ...... very sharp indeed!!
Thanks for replying I do appreciate it.. Yes I am from the uk but My mother is from Ohio.
I was just reaching out to someone for advice on this subject before it goes further. I have asked friends and family of course, but they are not impartial.
I guess this is'nt really about law for me, more about whats fair.
Thanks again.
 

Silverplum

Senior Member
Very sharp ...... very sharp indeed!!
Thanks for replying I do appreciate it.. Yes I am from the uk but My mother is from Ohio.
I was just reaching out to someone for advice on this subject before it goes further. I have asked friends and family of course, but they are not impartial.
I guess this is'nt really about law for me, more about whats fair.
Thanks again.
That's not how we roll here.
 

Ohiogal

Queen Bee
That's not how we roll here.
woke up on my roof with my brothers
There's a whale in the pool with my mother
And my dad paints the house different colors
Where would we be, if we couldn't dream?

And I know
We get a little crazy
And I know
We get a little loud
And I know
We're never gonna fake it
We are wild
We are free
We are more than you think
So call us freaks
But that's just the way we roll

You got moves, I've got shoes, let's go dancing
Pop and lock, battle dance [battle dance] against Hanson
If we lose, all the girls, they'll be laughing
Where would we be, if we couldn't dream?

And I know
We get a little crazy
And I know
We get a little loud
And I know
We're never gonna fake it
We are wild
We are free
We are more than you think
So call us freaks

But that's just the way we roll

And we're old enough to know
We're never letting go
'Cause that's just the way we roll

And I know
We get a little crazy
And I know
We get a little loud
And I know
We're never gonna fake it
We are wild
We are free
We are more than you think
So call us freaks
But that's just the way we roll

And I know
We get a little crazy
And I know
We get a little loud
And I know
We're never gonna fake it
We are wild
We are free
We know more than you think
So call us freaks
'Cause that's just the way we roll
That's just the way we roll
Oh That's just the way we roll
 

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