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Bought a condo with an ex wife, she put the down payment…

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Bought a condo with...

Bought a condo with an ex wife, she put the down payment down from her separation settlement. Our agreement was I would pay mortgage and all other cost until I caught up with what she put down, then we would split all cost associated with the condo, So for a long time I've paid the mortgage, taxes, condo fees, and all other expenses well past the amount she put down. She wants to sell. So my question is how would the proceeds from the sale be split or what would be a fair bye out if I offered her one.

Lawyer's Assistant: Because real estate law varies from place to place, can you tell me what state this is in?

Maryland

Lawyer's Assistant: Has any paperwork been filed?

No

Submitted: 7 months ago.Category: Legal
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Answered in 3 minutes by:
11/27/2017
Lawyer: Loren, Attorney replied 7 months ago
Loren
Loren, Attorney
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Thank you for using JA. I am Loren, a licensed attorney for over 30 yrs., and I am here to help.

I am a certified expert on JustAnswer since 2009, with nearly 100% in 5 star ratings. So, we should be able to work through your problem.

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Lawyer: Loren, Attorney replied 7 months ago

If you close in escrow then the title company is just going to issue a check payable to the owners of record.

If you want it split, you would need to both sign a letter of direction instructing the title company how to issue the checks.

You can add up what each owner has paid and compensate each other on paper for any imbalance. Then split the remainder of the proceeds.

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Lawyer: Loren, Attorney replied 7 months ago

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