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Actually she will be doing the mortgage solely in her name as I have had financial issues in the past and cannot get the mortgage.
Up to now I have just been paying rent to her, but we want to make the arrangement more formal before we get married.
Sounds like deed of trust is the option from what I have read online, but is there an agreed legal formula for this which is fair. I guess must happen a lot.
As I said if initial investment was 25k me, 285k partner.
We then split the mortgage of 390k 2/3rds to me and 1/3rd to us how would this be documented.
I don't understand what the profit share would be, lets say we paid 90k off mortgage, leaving 300k and the property increased 100k and sold for 800k how you could work out fair percentages when selling?
This is where I'm confused
That's great thanks, ***** ***** way to go. The only issue is getting the property valued, I guess to get a valuation survey done to cover us both.
Are there any particular valuation companies you would recommend?
If you are remortgaging then using the mortgage companies figure is as good as any