My husband and I were both married before and are about to celebrate our 25th anniversary. Since we each have 2 children from previous marriages we have kept our investments separate.
When we married he moved into my house, which I paid off shortly thereafter. He rented his home for a few years and sold it 10 years ago. Over the years he has made considerable improvements to my home as he is very handy. We are now selling it and moving into a home we both love. We plan to share equally in the cost of the new home. He feels that all the proceeds of my home should go toward the purchase of the new home and that we should take a mortgage out for the remainder and split the payments in 1/2. Since I paid for the home myself I feel I should receive all the proceeds and invest them as he did when he sold his house. He feels this does not reimburse him for his ‘sweat equity’. I don’t want to be unreasonable. Does anyone have an idea how to fairly handle this type of situation? I hate even asking this question as I truly believe money is the root of all evil. ?
When we married he moved into my house, which I paid off shortly thereafter. He rented his home for a few years and sold it 10 years ago. Over the years he has made considerable improvements to my home as he is very handy. We are now selling it and moving into a home we both love. We plan to share equally in the cost of the new home. He feels that all the proceeds of my home should go toward the purchase of the new home and that we should take a mortgage out for the remainder and split the payments in 1/2. Since I paid for the home myself I feel I should receive all the proceeds and invest them as he did when he sold his house. He feels this does not reimburse him for his ‘sweat equity’. I don’t want to be unreasonable. Does anyone have an idea how to fairly handle this type of situation? I hate even asking this question as I truly believe money is the root of all evil. ?