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Separation/Divorce and buy-out of family home(1 Post)
My wife and I are separating after 17years together (9 years married). We have two children; 4yo boy and 2yo girl. The split is very very devastating for us both, but amicable; we still love each other but the relationship has been riven with conflict, therapy and plenty of crisis and is at a natural end. We have agreed to co-parent, be mutually respectful, loving and not fight for custody or money. We are starting off as maturely as possible with hope of a better, happier future.
We have a joint mortgage but I was primarily responsible for paying it off both before and after kids. I am happy to write off the investment I made because unpicking who paid what and when into the mortgage will be messy. We have also made various cash investments to improve the property - again, all quite messy. So I'd rather just draw a line under it and keep it simple.
I'm of the mind to suggest one of us paying the other half of the remaining equity which accounts for approximatley 40% of the value of the flat .
Does anyone have any experience of buying-out or being bought out of the family home? Any experience & advice welcomed.
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