Question about property division

[dinkyface]

Originally Posted by twestla

I am finding it difficult to believe that after 7.5 years of paying principle, interest, property taxes, utilities, physical labour, decorating, cooking, yard work etc.

In your list above, only ONE item would be something you could walk away with: the principal repayments. Everything else is just overhead/continuing costs of owning a home.

The bank should have sent you a yearly report of how much of the total mortgage was principal vs interest. Take the total principal repayment amount, and split it in half. That gives you a rough idea of what you can walk away with.

[Rioe]

Here the math as I see it. This is assuming an initial mortgage of 115k, which I am calculating from the house price of 337k minus his down payment of 222k.

The increase in the asset is 395k-337k=58k.
The increase in the debt is 169k-115k=54k.
Split the difference, and you each walk away with 2k in profit from the house over the years you owned it. The amount of his down payment is irrelevant in this calculation as are the actual values; it's only the differences that matter.

You profited not so much by the money you invested into the home, but in the enjoyment you got out of it for seven years. Such is the price of living common-law instead of being married. Sorry you're getting such a wake-up call.

But you may be able to negotiate for more with him, depending on how eager he is to make the problem go away.