Seperated from wife and buy out

[jagcon]

Hi i am going through a seperation at the moment and am looking at options regarding the house we own.

Lets say the house is valued at €225,000
The balance of the mortgage is €274,000

so negative equity is €49,000

If she was to buy me out what way does this work? does she buy my half of the mortgage balance or my half of the house value.

Thanks
JC

 

[Brendan Burgess]

Check the Key Post

A guide to splitting up when in negative equity

And then maybe complete the following

Standard Format for mortgage arrears and negative equity case studies

for a comprehensive answer to any remaining questions.

Brendan