I have a question regarding my common law seperation.
I bought my house in 2001 with my mother for $176,000. In 2003 my partner and I had a child together, and he bought out my mother's share of the house for $30,000 in 2004. My mother and I remained on the mortgage, but he and I are on title, and he pays half of the mortgage. He also did some renovations to the bathroom and upgraded the furnace, improvements costing about $10,000.
We seperated in February 2005 and he moved out. He continues payments on the house.
Our mortgage is up for renewal this April and I want to buy him out. How do we calculate what he is entitled to?
Thanks,
Mississauganative
I bought my house in 2001 with my mother for $176,000. In 2003 my partner and I had a child together, and he bought out my mother's share of the house for $30,000 in 2004. My mother and I remained on the mortgage, but he and I are on title, and he pays half of the mortgage. He also did some renovations to the bathroom and upgraded the furnace, improvements costing about $10,000.
We seperated in February 2005 and he moved out. He continues payments on the house.
Our mortgage is up for renewal this April and I want to buy him out. How do we calculate what he is entitled to?
Thanks,
Mississauganative
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