My Ex Wants Me To Pay Half of His Loan

seatbeltnoob2

Any debt to pay for improvement on a joint asset is a joint debt. Even in your OP you indicate that was a verbal agreement to pay for half of it but you're refusing. I don't know why people on the boards are ignoring this fact.

I've witnessed a lot of seperations, it's always the case that partners want to split the assets but they don't want to split the liabilities.

boo_star

seatbeltnoob2 said:

Any debt to pay for improvement on a joint asset is a joint debt. Even in your OP you indicate that was a verbal agreement to pay for half of it but you're refusing. I don't know why people on the boards are ignoring this fact.

I've witnessed a lot of seperations, it's always the case that partners want to split the assets but they don't want to split the liabilities.

Precisely.

OP has benefited from the increased value from the loan so should split the cost of the loan.

Willing2Learn

On the other hand, the plan to borrow money for home improvements came from the OH.  The OP had told the OH, before any agreement was signed, that she could not afford to repay the loan, but the OH convinced her to do it as the plan was that "they would be together forever".  For this reason, I don't think it 'fair' that the OP should subsequently have to repay half the loan...

seatbeltnoob2

Willing2Learn said:

On the other hand, the plan to borrow money for home improvements came from the OH.  The OP had told the OH, before any agreement was signed, that she could not afford to repay the loan, but the OH convinced her to do it as the plan was that "they would be together forever".  For this reason, I don't think it 'fair' that the OP should subsequently have to repay half the loan...

lol

sourcrates

Lodexmy said:

Thanks for the replies, I appreciate it. 
I feel this is a question of morality above everything else, rather than legality.

Courts do not look at the morality of a financial case, they stick to the legal aspects of it, which, where money is concerned, is mostly the correct thing to do.

His name on the credit agreement, hence his liability, not anyone else`s, if you wish to contribute towards the cost, then do so, if you do not, he cannot make you, you should perhaps bear in mind you may need his cooperation in other areas, so balance one against the other.

mcpitman

If the loan was used to provide home improvements, which have consequentially improved the value of the property you are about to sell, then settlement of the loan should come from any proceeds of the house.

Legal or moral groundings aside, the above would be what any decent human being would do.