Deed of Trust question - amount needs to change

IlonaRN

Hi,

I purchased a house with my partner, and we registered a Deed of Trust at the time, which specified what percentage of the house each of us owned, and how much he should receive back after the mortgage had been paid off, before any other proceeds were split.

We are now remortgaging, and we therefore need to alter the percentages owned by each of us, and also the amount that he will receive back prior to any profit being split between us.

How can we word it so that the amount he receives before profit is split is equal the the monetary amount left on the mortgage at the time of sale?

He provided the cash deposit, and the mortgage is "mine" - although it is of course in joint names, I pay it. After the remortgage, we will own 50% of the house each.

Therefore any proceeds should be split down the middle if we don't sell until the mortgage has been paid off in full.

Prior to that time, he should receive an amount equal to the amount paid to the mortgage company, after which the remaining proceeds should be split.

Also: how do we reference the old Deed in the new one?

Thank you in advance for any help you can offer!