I own a house with my ex-boyfriend. We have since broken up. Both our names are on the mortgage. I put down 10 thousand dollars of my own for the down payment.
He wants to keep the house himself and give me my down payment back. He wants to get his own mortgage for whats owing on the house.
The problem I see is, the house is worth more then what we paid. We did many upgrades. I think I'm entitled to more.
I'm trying to keep the peace but have a felling something is not right. He keeps tell me that there will be a 50/50 split.
I'm questioning the 50/50 split cause how do you know the value of the house?
A friend said this and I want to know if this sounds right or not...
"He wants to get a mortage for whats owing on the house. After he gets that he will give you back some money (Maybe). A few months down the line he will put the house up for sale and make some money and you wont get anything". Does this sound like something that could happen?
At this point I have not contacted a lawyer and I'm letting him handle everything.
I really need some direction to figure out the right solution to my problem.
Any advice will help.
Thanks
He wants to keep the house himself and give me my down payment back. He wants to get his own mortgage for whats owing on the house.
The problem I see is, the house is worth more then what we paid. We did many upgrades. I think I'm entitled to more.
I'm trying to keep the peace but have a felling something is not right. He keeps tell me that there will be a 50/50 split.
I'm questioning the 50/50 split cause how do you know the value of the house?
A friend said this and I want to know if this sounds right or not...
"He wants to get a mortage for whats owing on the house. After he gets that he will give you back some money (Maybe). A few months down the line he will put the house up for sale and make some money and you wont get anything". Does this sound like something that could happen?
At this point I have not contacted a lawyer and I'm letting him handle everything.
I really need some direction to figure out the right solution to my problem.
Any advice will help.
Thanks