What is the name of your state? California
Hello,
I purchased a home with my boyfriend. The split goes 1/3(him) and 2/3(me).
I put down $70K as the down payment when we purchased the house.
Is he still entitled to 1/3 the equity if I was to buy him out even though he did not put anything towards the original down payment? Or can it be 'equity minus the original $70K down payment' where then he gets 1/3 of the amount? We are on a interest only type loan. Please help. Thanks!
Hello,
I purchased a home with my boyfriend. The split goes 1/3(him) and 2/3(me).
I put down $70K as the down payment when we purchased the house.
Is he still entitled to 1/3 the equity if I was to buy him out even though he did not put anything towards the original down payment? Or can it be 'equity minus the original $70K down payment' where then he gets 1/3 of the amount? We are on a interest only type loan. Please help. Thanks!