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common law assets divisions

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  • common law assets divisions

    My girlfriend and I purchased a country home together in April of 2004. She and her 21 year old daughter lived in it for 6 months before I moved in (I had a house to sell first in another town). The property cost $428,000. I put in $162,500. upfront cash, and another $31,000. in renovation costs. We have a mortgage for $255,000. She has been contributing only the mortgage payments ($1500. a month and as of today, it comes to a total of about $23,000.). We are splitting all other costs (hydro,oil, etc. 50/50). Her daughter still lives here [Surprise!]and only pays $3. a day...and that's for 'everything'.
    My question is....upon sale of we get back what we put in, after bank and after lawyer and agent fees, and split any profit 50/50...or can she claim half of my total investment? We have listed the property for $499,000. I don't have much of an income. All my savings are tied up in this place. She makes very good salary, and can certainly afford something else.
    Any help would be appreciated. I'm losing sleep...about losing everything else. Thanks.

  • #2
    Dear Treeman

    I know one of the knowledgeable "guardian angels" that float about this forum will be with you before the day is out. I was wondering though (in my ignorance of law) how long a time factor is involved (if any) for the official designation of "common law". You said that your girlfriend and yourself bought a home in April of '04. Were you and she living together prior to that date? It's probably changed now but it seems to me there use to be a "time frame" for living together that determined what rights one party had over another in disolvment and divission.


    • #3
      Although we bought the property together in April 2004, I didn't move in until October 15th, 2004. We've lived together for 15 months. We've been living in separate bulidings on this property for the last 2 months.


      • #4
        can anyone shed light on my initial inqiury? thanks......i'm completely in the dark.


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