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Answered in 4 minutes by:
1/30/2014
Law.Hut, Lawyer
Category: Canada Law
Satisfied Customers: 7,846
Experience: with over 15 years experience.
VerifiedHello:
If you only look at what he has paid, you ignore the increase in market value that may have occured since he bought the house to now, as a result of house prices going up generally. So the way that equity is calculated for such an agreement is usually the method as described by your boyfriend. As he owns the house, up to now he should get the benefit for increases in market value.
I hope this is helpful. If you have no further questions, please rate the answer positively, as otherwise the site does not credit me, even if you have paid a deposit. You can still ask follow up questions after rating though, if you wish.
If you only look at what he has paid, you ignore the increase in market value that may have occured since he bought the house to now, as a result of house prices going up generally. So the way that equity is calculated for such an agreement is usually the method as described by your boyfriend. As he owns the house, up to now he should get the benefit for increases in market value.
I hope this is helpful. If you have no further questions, please rate the answer positively, as otherwise the site does not credit me, even if you have paid a deposit. You can still ask follow up questions after rating though, if you wish.
Law.Hut, Lawyer
Category: Canada Law
Satisfied Customers: 7,846
Experience: with over 15 years experience.
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