My Ex Thinks I Should Compensate Him for the “Good Idea” He Had When We Were Together. Really?
The writer purchased a house and later had their partner move in, agreeing to split mortgage payments after equalizing equity. The partner suggested refinancing, which saved $55,000 in interest, but after losing his job, the writer covered all housing costs for the next 10 years. Now broken up, the partner claims credit for the savings, but the advice columnist explains that a good idea does not constitute a financial contribution.
- ▪The partner suggested refinancing the mortgage, which saved $55,000 in interest over the loan term.
- ▪The partner contributed to mortgage payments for two years before losing his job, after which the writer assumed all housing expenses for 10 years.
- ▪The partner's name was never on the title and they were not married, meaning he has no legal claim to the property.
- ▪The writer wants to compensate the partner fairly despite having no legal obligation to do so.
- ▪A real estate attorney is recommended to help determine a fair and defensible compensation amount.
Opening excerpt (first ~120 words) tap to expand
Pay Dirt My Ex Thinks I Should Compensate Him for the “Good Idea” He Had When We Were Together. Really? Advice by Ilyce Glink May 04, 20266:00 AM Photo illustration by Slate. Photos by Getty Images Plus. Copy Link Share Share Comment Copy Link Share Share Comment Pay Dirt is Slate’s money advice column. Have a question? Send it to Kristin and Ilyce here. (It’s anonymous!) Dear Pay Dirt, My question involves splitting investment in a house after a break up. I purchased a house on a 30-year-mortgage at 4.5 percent interest. After two years, my (then) partner moved in, and we evened up on the equity and agreed to split the mortgage payments moving forward. He suggested refinancing when he moved in (15-year-mortgage at a 3 percent interest rate) which saved $55,000 over course of the loan.
…
Excerpt limited to ~120 words for fair-use compliance. The full article is at Slate Magazine.
Discussion
0 commentsMore from Slate Magazine
