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Common Law Issues The law regarding common law relationships is different than in cases of divorce. Discuss the issues that affect unmarried couples here.

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Old 05-19-2009, 02:33 PM
Trevor V Trevor V is offline
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Default Couple of Common-Law Questions

Hey folks,

Just curious about a couple of things that I can't find straight forward answers to on the net.

I was with my Ex for just under 2 years or so, but we ended the relationship amicable, it wasn't a falling out or anything.

At the time we owned 2 properties, both of which are in both of our names. We just decided that I would live in our house because I could afford the payments and she would move into the townhouse that we had been renting out (which she did just a couple weeks ago).

Long story short I'm trying to get her name off of my mortgage on the house, but my co-signer won't assist me until I can prove that my Ex and I are walking away pretty evenly.

So my questions are;

1. When people buy the other person out of a house, how is that determined? Is the equity of the actual mortgage vs. an appraisal amount just cut in half? And is that equity determined pre or post realtor and lawyer fees? Eg. My house has a 400k mortgage but I couldn't realistically sell it for more than about 360, but would probably be appraised at 420-ish. The townhouse that she's living in has a 270k mortgage, could probably be sold for about 295k and maybe an appriasal around 305k.

2. For goods bought together during the relationship, like our couch set, dining room set and TV, is that 50/50 split based on the original retail costs, or what the current value of the items are, or just split however the couple decides?

Thanks!!
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