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How much to pay him off?

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MelisaG25

Junior Member
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!
 


BelizeBreeze

Senior Member
MelisaG25 said:
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).
And where do you get those figures?
I put down $70K as the down payment when we purchased the house.
O.k.
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?
no, he is entitled to 1/2
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!
Help? Learn the words "partition" they will serve you well when you go see a real estate attorney.
 

HomeGuru

Senior Member
MelisaG25 said:
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!

**A: absent any written agreement to an agreed upon percentage split, he owns 50% equity in the property. So be nice to him, not bitchy.
 

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