Last fall, I sold my townhouse in Kanata and bought a detached home with my boyfriend, putting the proceeds of the sale of my townhouse towards the new house. Due to a long-term illness, my boyfriend didn't have anything to put towards the downpayment on house, but he did pay the inspection fees.
The real estate lawyer suggested that, because we both had children from a previous marriage, the ownership of the house should be 'tenants in common' rather than 'joint-tenants', so that our respective estates would go to our respective children, to which we both agreed.
However, in reviewing the paperwork and the transfer, the deed transfer indicates next to my name "Tenants in Common" with a share of 75%, and next to his name, "Joint Tenants" with a 25% share. I was quite specific in asking the lawyer ensure that the proceeds of the sale of my old townhouse are indeed mine, should the relationship go south (or to my kids, should I pass on).
We just had our first couples counseling session last week. In the event that the relationship deteriorates further, should I be going back to the lawyer to have the deed corrected? If we do end up selling the house, I'd like to get back the money that I put into it.
I do have all the receipts to show what I paid for.The real estate lawyer suggested that, because we both had children from a previous marriage, the ownership of the house should be 'tenants in common' rather than 'joint-tenants', so that our respective estates would go to our respective children, to which we both agreed.
However, in reviewing the paperwork and the transfer, the deed transfer indicates next to my name "Tenants in Common" with a share of 75%, and next to his name, "Joint Tenants" with a 25% share. I was quite specific in asking the lawyer ensure that the proceeds of the sale of my old townhouse are indeed mine, should the relationship go south (or to my kids, should I pass on).
We just had our first couples counseling session last week. In the event that the relationship deteriorates further, should I be going back to the lawyer to have the deed corrected? If we do end up selling the house, I'd like to get back the money that I put into it.
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