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how mortgage profit shared
a house was bought under my name, my mother and brother. I paid the mortgage for 7 years until I decided to move out and buy my own house. We removed my name on the first house so I can be approve for a mortgage on the second house. We decided not to involved any money as we are a family anyway. Now they decided to sell the first house. Will I get any money from the sale? How is the profit divided?
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For more on marking an answer as the "Best Answer", please visit our FAQ.Well you say you are a family etc. and so really you should be able to decide what is a fair portion for you to get. You do not say how long all of you actually owned the house, but I would say that if you took the initial cost of the property and the rough valuation of what it was when you 'left' the arrangement then you should be entitled to one third of that. However if they are not saying you are entitled to anything you must decide if it is worth a family rift and argument over! I suggest you discuss it and just ask them to be fair.