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Partner Paying Off My Mortgage - What am I asking for?

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Comments

  • Mojisola
    Mojisola Posts: 35,571 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    Also check out the inheritance tax position of your estate.
  • saajan_12
    saajan_12 Posts: 5,122 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    With co-ownership of an illiquid property, you need to agree ahead what happens if
    *One of you wants to liquidate their share - can either of you unilatterally decide to sell, making the other find other accomodation? How long do they have to give?
    *One moves out - does the other buy out / pay rent for their share? Can the remaining person move in a new partner?
    *If buying out, how do you arrive at a valuation? average of 2-3EA's valuations?

    Best to get this agreed now while neither party have a significant bias.
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