Q: How do the proceeds of the sale of a home get divided when one person put down $25,000. and the other $20,000.?
My ex-fiance's real estate attorney wanted me to sign a paper indicating the first $5000. should go to my ex. but I feel she should just get a higher percentage from the sale as we only had the home for 1 1/2 yrs. so no equity and we probably won't get what we paid for it. My ex is now refusing to sign papers to put house on market until the paper is signed. Is she correct that she should get the first $5000.
A: I recommend asking the attorney assisting you with the transaction, as he or she is in the best position to answer your question with a definitive answer. If you do not yet have an attorney, I highly recommend you hire one, particularly considering your ex-fiance has retained an attorney.
A: I agree with Mr. McCann. Frankly, this comes down to a matter of negotiation. Whatever the two of you agree on is correct, unless there was a binding agreement when the money was invested.
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