QUESTION
How do you split the proceeds from a home sale when the parties contributed an unequal amount to the down payment?
Asked on Jul 10th, 2023 on Consumer Law - Florida
More details to this question:
My husband and I purchased a home with my mother-in-law and it isn’t working out so we want to sell. Our portion of the down payment was $80k and her portion was $8k. I read that splitting the proceeds is based on a percentage of the amount paid at closing by each party. Is this true? A split of 50/50 definitely does not seem fair.
1 ANSWER
Consumer Debt Collector Harassment & Abuse Attorney serving Tampa, FL
Partner at
Tischhauser Law Group
2 Awards
All depends on the facts the details of the parties agreement. Many times an 8K investment warrants 50/50 split if the other party brings the good credit needed to make the deal or other value.
Answered on Jul 25th, 2023 at 4:55 AM
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