Legal Question in Real Estate Law in Nevada

Loan Repayment and Equity of a Marital Home?
My husband and I are divorcing after a brief marriage. We have agreed that he will keep the home, but he must pay me back for the amount I put as the downpayment. He owed me $78,787 and will pay me back $43,500 right away and pay me back the rest over 24 months. He will pay me $750 a month for 23 months at 5.75% interest, with a balloon payment on the 24th payment for $21,299.04. I'm wondering if it is okay for me to put in the agreement that if he sells the house within the timeframe of his repayment to me, would I be entitled to, say, 15% of the equity at the sale of the home if I gave up the interest he had paid me so far?

Thank you very much.

Asked on 3/28/06, 5:08 pm

James Smith James E. Smith Ltd.

0 users found helpful

0 attorneys agreed

Re: Loan Repayment and Equity of a Marital Home?

You two can agree to anything you want to. Just make sure it is clear in writing. A contract must be mutual and only modifiable in writing.

Answered on 3/28/06, 5:32 pm

Keywords

Match Any Match All

Country

State

Area of Law