Hi guys,
I have a question for all the expert legal minds out there. My parents are separated, and want to figure out an amicable arrangement for division of assets. As part of the the agreement, my dad has suggested we split the ownership of the house between him and me, 20%/80%. He has agreed to continue paying the mortgage on it until it is sold.
Is this type of agreement legally enforceable, and is there a way I can legally enforce it? Would I be entitled to 80% of the value upon sale of the house, or 80% of income generated from the house? Because he is still the holder of the mortgage on the house, I'm not sure how valid my 80% claim would be.
Any help would be appreciated greatly. Thank you!
2007-08-06
06:09:46
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5 answers
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asked by
Stargazing
3
in
Renting & Real Estate