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Hello,
My partner has recently (August) terminated our relationship...we reconciled two years ago after 3+ yrs apart. We bought a house together in Fall 2006, shared 50-50. We have a 7-yr old daughter. I have left the family home as of end of September; we agreed this would be the best scenario for our daughter. There is a new partner in the picture for her, an affair which predated the end of the relationship, and did not disclosed voluntarily. He is already, two weeks after my move, being integrated in my daughter's home life, as a "friend". We are contemplating mediation counseling, as things are still emotional for me, though she is detached.
I need help on understanding legalities surrounding mortgage obligations, as they relate to current situation. I am now having to start new family home for my daughter and I (we will share custody), and am wary of tying into a separation agreement which puts me on the hook for maintaining current living standard for ex in our home for an indeterminate amount of time, while probably struggling to make ends meet on my end. How often do separation agreements reduce one ex-partner's mortgage load? Of course I understand this lowers equity upon sale of home. Should I even bring this to the table? We are communicating reasonably well, though it is tense. We are both committed and devoted parents, and respect each other in this area. I do not want to force sale of house as I believe that would represent too much change too quickly for my daughter, but will be seriously challenged floating half mortgage, rent on new residence and my monthly expenses, and half daughter's costs.
My partner has recently (August) terminated our relationship...we reconciled two years ago after 3+ yrs apart. We bought a house together in Fall 2006, shared 50-50. We have a 7-yr old daughter. I have left the family home as of end of September; we agreed this would be the best scenario for our daughter. There is a new partner in the picture for her, an affair which predated the end of the relationship, and did not disclosed voluntarily. He is already, two weeks after my move, being integrated in my daughter's home life, as a "friend". We are contemplating mediation counseling, as things are still emotional for me, though she is detached.
I need help on understanding legalities surrounding mortgage obligations, as they relate to current situation. I am now having to start new family home for my daughter and I (we will share custody), and am wary of tying into a separation agreement which puts me on the hook for maintaining current living standard for ex in our home for an indeterminate amount of time, while probably struggling to make ends meet on my end. How often do separation agreements reduce one ex-partner's mortgage load? Of course I understand this lowers equity upon sale of home. Should I even bring this to the table? We are communicating reasonably well, though it is tense. We are both committed and devoted parents, and respect each other in this area. I do not want to force sale of house as I believe that would represent too much change too quickly for my daughter, but will be seriously challenged floating half mortgage, rent on new residence and my monthly expenses, and half daughter's costs.