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Good Day Everyone,
Just need a bit of clarification please, and advice. A bit of a background.
My CL and I have recently split, and we jointly own a house (deed, mortgage, etc...). We dated for 1 yr long distance, then bought the house and have been in it for a little less than 2 yrs. I put the entire down payment in for the financing of the property. Nothing but minor expenses have been invested in the property since the purchase by either of us. We have split 50/50 all expenses for the house (bills, mortgage payments, etc...) since the purchase.
I am looking to get back my down payment and then split all remaining equity 50/50 should she not accept my buyout offer and we are forced to sell. She is looking for 50/50 split of total equity based on (appraisal - approximate fees - mortgage owing) what we could get.
From my understanding, since we have not been in a cohabitating relationship for over 3 years (long distance wouldn't be counted as cohabitation with regards to this as we were freshly dating), then common law does not apply, therefore this is more Property Law or some kind of Civil Law as opposed to Family Law. After sale, all fees are paid, then my down payment comes to back to me and the remainder (if there is anything left) is split 50/50 because we are both co-owners. Am I right on this?
I'm also under the assumption, that we leave with what we came into the relationship with. Again, my down payment was my investment into the property, and therefore should be returned prior to splitting any remaining equity. Am I right on this one too?
My understanding that her perceived "entitlement" to half the total equity would constitute a gross situation of unjust enrichment.
The down payment was from the proceeds of a previous property that I was the sole owner of. I also have all the documentation to show this and that it was transferred from the sold property to the newly purchased one.
We are currently in the beginnings of the lawyer phase of this, and I'm hoping it doesn't need to go any further. If anyone has any advice or points to think about, please let me know.
Cheers
Just need a bit of clarification please, and advice. A bit of a background.
My CL and I have recently split, and we jointly own a house (deed, mortgage, etc...). We dated for 1 yr long distance, then bought the house and have been in it for a little less than 2 yrs. I put the entire down payment in for the financing of the property. Nothing but minor expenses have been invested in the property since the purchase by either of us. We have split 50/50 all expenses for the house (bills, mortgage payments, etc...) since the purchase.
I am looking to get back my down payment and then split all remaining equity 50/50 should she not accept my buyout offer and we are forced to sell. She is looking for 50/50 split of total equity based on (appraisal - approximate fees - mortgage owing) what we could get.
From my understanding, since we have not been in a cohabitating relationship for over 3 years (long distance wouldn't be counted as cohabitation with regards to this as we were freshly dating), then common law does not apply, therefore this is more Property Law or some kind of Civil Law as opposed to Family Law. After sale, all fees are paid, then my down payment comes to back to me and the remainder (if there is anything left) is split 50/50 because we are both co-owners. Am I right on this?
I'm also under the assumption, that we leave with what we came into the relationship with. Again, my down payment was my investment into the property, and therefore should be returned prior to splitting any remaining equity. Am I right on this one too?
My understanding that her perceived "entitlement" to half the total equity would constitute a gross situation of unjust enrichment.
The down payment was from the proceeds of a previous property that I was the sole owner of. I also have all the documentation to show this and that it was transferred from the sold property to the newly purchased one.
We are currently in the beginnings of the lawyer phase of this, and I'm hoping it doesn't need to go any further. If anyone has any advice or points to think about, please let me know.
Cheers
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