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Common law and splitting of the House.

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  • Common law and splitting of the House.

    So the girlfriend and I have split after about 4 years. We have a house together. She doesn't want to sell it, she wants to keep it. Both of our names are on it. I have moved out since. Nothing has been done as of yet. I've asked her to go through the motions in having my name removed from everything. Now I signed a thing from the Realty lawyer that if anything happen, like a split, that I would only receive 1%. Why, because she had a house previously that she sold and used the equity from that house to help purchase this one. My share was basically 1%.

    Now with all that said, the house has increased in value significantly and we have done some renos to the house to increase the value as well. Am I entitled to my 1 % and the difference in equity from the original purchase price. So if she has to buy me out, is all she required is to pay me the 1% of what we bought the house for?

    I'm looking for any advice or knowledge on what to expect. Thank you very much in advance.

  • #2
    You look at the value of the home at the time of the seperation. Your entitlement remains 1%, including the increase in value.

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    • #3
      So if the house was 700,000 when purchased, but at the time of separation was 850,000 I would receive the 1% from that value? Also we do not have a separation agreement. We just split and she has agreed to have my name removed from the mortgage and said that the bank or realty lawyer will call me with a cheque. I just want to make sure I'm not missing anything.

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      • #4
        How much did you put into the renovations? Did you contribute at all to the down payment?

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