Removing partner moniker from mortgage - What am I entitled to?
I split up with my Ex 8 years ago. Since then she have been living in the flat and paying the mortgage. She in a minute wants my name sour the mortgage, I have a feeling she requests to sell. The property is worth twice what we paid for it, so my Question is...
Am I entitled to any of the profits of the mart, or should I ask her to buy me out if she intends to keep it?
I want to be fair to her, but also dont want to miss out on any money I am entitled to.
Answers:
An option plentifully of us don't think about is not to do anything. Just articulate no a you're entitled to at least something (up until 8 years ago, I'm guessing you were paying your share?) If you want to be unbiased, so must she, she must make a reasonable grant. It's business, keep old emotion out of it.
This way, you'll see by her reaction what's afoot.
I actually focus you would be entitled to half of any profit made in THEORY. However, if she decide to contest this then Im pretty sure she will have a well brought-up case as she has remunerated the mortgage for 8years (presuming she can prove this through bank statements etc). I suggest if you really want to take partially the profit (or anything in fact) you go and aim legal advice. Most solicitors do a 'free surgery' so this shouldnt cost you anything and they will be capable of give you the correct legal proposal.
You requirement to seek legal direction - there will be some entitlement for you as you contrbuted financially.
Are you on the title or deed to this property?
If you are, you are entitled to some of the profit, since you have ownership of this place still, regardless of whether you made any payments for 8 years. How lots years did you make payments?
If she wants you OFF the mortgage, she have to refinance in her name simply, and you have to sign a quit claim.
Take a tip..
Get the property valued and get her to buy you out.......
You may end up near more that way
The best entry to do is to sell it out from under her. Then it will be her to write Y!A to numeral out what to do
1. this advice is assuming US laws, but typically if she wishes your name off the title, she would enjoy to refinanace in her own name, and own you quit claim off the title. she would have to buy you out of your share as all right. this is if she doesn't sell. are on the mortgage only or the mortgage and the title? you stipulation to be sure here.
2. if she does sell, if you are on the title, you are entitled to half the proceeds of said Dutch auction (after the mortgage note is satisfied). you need to speak to a solicitor right immediately.
It's not that easy, want legal advice.
Related Questions:
Mortgage company seeking private lend sources for international mortgages on Margarita Island surrounded by Venezuela?
All types of loans typically in the $2 to $3 million range for condo and town house projects next to very low loan to value ratio. Looking for Private Equity firms and other private investors- loans are made at...
Am I entitled to any of the profits of the mart, or should I ask her to buy me out if she intends to keep it?
I want to be fair to her, but also dont want to miss out on any money I am entitled to.
Answers:
An option plentifully of us don't think about is not to do anything. Just articulate no a you're entitled to at least something (up until 8 years ago, I'm guessing you were paying your share?) If you want to be unbiased, so must she, she must make a reasonable grant. It's business, keep old emotion out of it.
This way, you'll see by her reaction what's afoot.
I actually focus you would be entitled to half of any profit made in THEORY. However, if she decide to contest this then Im pretty sure she will have a well brought-up case as she has remunerated the mortgage for 8years (presuming she can prove this through bank statements etc). I suggest if you really want to take partially the profit (or anything in fact) you go and aim legal advice. Most solicitors do a 'free surgery' so this shouldnt cost you anything and they will be capable of give you the correct legal proposal.
You requirement to seek legal direction - there will be some entitlement for you as you contrbuted financially.
Are you on the title or deed to this property?
If you are, you are entitled to some of the profit, since you have ownership of this place still, regardless of whether you made any payments for 8 years. How lots years did you make payments?
If she wants you OFF the mortgage, she have to refinance in her name simply, and you have to sign a quit claim.
Take a tip..
Get the property valued and get her to buy you out.......
You may end up near more that way
The best entry to do is to sell it out from under her. Then it will be her to write Y!A to numeral out what to do
1. this advice is assuming US laws, but typically if she wishes your name off the title, she would enjoy to refinanace in her own name, and own you quit claim off the title. she would have to buy you out of your share as all right. this is if she doesn't sell. are on the mortgage only or the mortgage and the title? you stipulation to be sure here.
2. if she does sell, if you are on the title, you are entitled to half the proceeds of said Dutch auction (after the mortgage note is satisfied). you need to speak to a solicitor right immediately.
It's not that easy, want legal advice.
Related Questions:
Mortgage company seeking private lend sources for international mortgages on Margarita Island surrounded by Venezuela?
All types of loans typically in the $2 to $3 million range for condo and town house projects next to very low loan to value ratio. Looking for Private Equity firms and other private investors- loans are made at...