Has anyone bought their ex partner out in the house during separation? How does this work? My kids have been through enough and they don't want to move. I also don't know where I want to be so I need time to think. We have been separated for 3 months. He's currently still contributing to house expenses but pays nothing else. No child support or anything. I have the kids full time.
4 Replies
Is there an option for him to place a caveat type of thing on the home, stating when the property is sold he gets 'x' amount. If you have the children full time you should get extra dibs on the house.
Go see a broker, there’s no point wondering, they will tell you, based on your income, the value of the property and the outstanding loan if it is doable.
If it is, you most probably get property valued, less the debt and pay the ex the 50% equity, probably coming to an agreement on the amount.
Sorry this is wrong. If you decide to do 50/50 split then you each are responsible for 50% of both the debt and the equity. Value (debt+equity)/2. If you decide on a different split you are responsible for your portion, same.
That’s what I meant, they are both responsible for debt and the equity calculated from that. I just thought they may get a few valuations and come to an agreement on the average valuation? Wouldn’t that be the hard part, agreeing and both accepting valuation? Not sure how that works.