Please help me work this out - I'm getting so mixed up with the maths and H is bamboozling me. Obviously I will let a solicitor deal with this properly, but in the meantime I'd like to get it straight in my head.
His parents gave him a cash gift a while ago, which we used to overpay the mortgage. We're now having initial discussions aboout splitting assets: regards to the house, I've suggested a 50:50 split minus the money from his parents, which I don't want.
Here's how I've worked it out:
House value: £300k
Mortgage left: £100k, giving us £200k equity
£200k equity minus £30k PILs money
= £170k to spilt 50:50 (£85k each)
Here's how H has worked it out:
£200k equity split 50:50 (£100k each)
Minus £30k out of my £100k share to give to him, so I end up with £70k
To me, if that £30k had never existed, then we'd owe £130k on the mortgage now rather than £100k, so we'd be splitting £170k and getting £85k each. But H is very good at getting me muddled and coming across all knowledgeable and superior. So now I'm wondering if he's right and my share is £70k rather than £85k?
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Relationships
Splitting money minus family gift
PiperAndLarry · 28/10/2017 14:10
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