Legal Question in Real Estate Law in New York

Re: division of real estate

Equity split is generally 50/50. However, ex to receive any improvements made to house during period of time, and each party should receive their share of the initial deposit toward the purchase of the house.

You should have your own lawyer. However, you may be able to have the lawyer charge a different fee for different items. For example, the lawyer may only charge a 1 hour fee to review papers and a flat fee to attend the closing.

If you want, you can telephone for further discussion and to review fees.

Mike.

Re: division of real estate

Your girlfriend lived in the house, and I presume that she paid the mortgage and the taxes. If she didn't this could have impaired your credit rating.

Since she lived in the house she had the use of the house, and anywhere else that she chose to live she would of had to pay the rent which would have been an offset to the mortgage and taxes that she paid.

While you had no benefit of ownership, her paying on the mortgage increased the equity of the property.

Thus Equity should be split 50/50. You should consult a lawyer immediately to protect your rights.

It is never advisable for one attorney to represent both sides in a real estate transaction. How could he give advice to both sides.

If you like, you may contact me and we can talk about this matter in detail