I don’t know if this subject is appropriate here but I will give it a try
I bought my house in 1998 for $140,000 and by the end of 2003 it was paid in full. Current municipal evaluation is $350,000 and I have put into the house on renovations approx. $100,000 (on materials only because as a retired contractor I did all the labor myself)
My wife, whom I married in August 2002, and I are both in our late 60’s and she has hinted that she would like to be a partner in the ownership of the house.
I want to be fair but how do I go about it? Like how much she has to pay me to make her an equal partner or what the alternatives are?
A good or bad idea?
Thank you
I bought my house in 1998 for $140,000 and by the end of 2003 it was paid in full. Current municipal evaluation is $350,000 and I have put into the house on renovations approx. $100,000 (on materials only because as a retired contractor I did all the labor myself)
My wife, whom I married in August 2002, and I are both in our late 60’s and she has hinted that she would like to be a partner in the ownership of the house.
I want to be fair but how do I go about it? Like how much she has to pay me to make her an equal partner or what the alternatives are?
A good or bad idea?
Thank you
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