Quote:
Originally Posted by Icemaster
Sean - went through your brothers plight a few years ago, also an amicable split. At least as amicable as it can be.
Might be worth checking into something called 'tenants in kind' deed.
We had an agreement where I remained a co-owner of the house, even split, until kids graduated high school. Once that happened she had to buy out my interest based on a value that we both researched, asking some friends in the business to pull some comps. Debt (HELOC) was subtracted from that amount, she had to finance what she would owe me - how was up to her and the house was then hers to do with as she pleased.
To protect both our interests during that period we both signed off on that deed which gave us both equal percentage of the property. Dower rights and a few other factors would have made it a challenge or risky to retain a traditional deed.
YMMV, PM if you want some more info.
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Thank you Sir, very helpful.