Top Contributors (View All)

Find a Top Real Estate Agent Near You

Splitting with partner. How do I get my share of the house?

My partner and I own a house together. However, I paid the entire downpayment. We're splitting up and my partner is insisting that we split the proceeds 50/50. But I should get a bigger percentage of the sale, since I paid the downpayment. What are my options for getting my fair share? If my partner refuses, do I need to hire a lawyer?
Asked By Collin | New York, NY | 102 views | Selling | 2 months ago
Answer(3)
Sort By:
I am sorry to hear that your partnership is not working out Collin. If the property split cannot be resolved between the two of you -- then, unfortunately you should get an attorney involved to protect your interested in the investment. Did you split mortgage payments and household costs? That would entitle them to a share of profit from selling. If you paid the initial deposit -- it is reasonable that $$ should go back to you in the division. Another alternative is keeping the property (if you can afford too) and your partner leaves. Have a value assessment completed (usually an appraisal or Realtor CMA) and calculate appreciation. That amount would be divided. I would also calculate and remove selling deductions before splitting -- like real estate commission and other transfer and closing fees that would be charged if you outright sold. (If both names are on the deed and mortgage -- there will be additional costs in having their name removed.) Selling may be the easiest route...
profile img
Rising Star
15 Answers
Arlene Modarelli

Fathom Realty

You should go speak with a Attorney to discuss the issues. Is the Deed in both names?
Erika Stewart

NextHome Tidewater Realty

(21)

I would consult an attorney.

Related Questions

  • How can I get the most money from selling my house?

    • Asked by Ronda N.
    • 1417 views
    • Selling
    • 8 years ago
  • How should I prepare my house before selling it?

    • Asked by Mike M.
    • 1021 views
    • Selling
    • 3 years ago