Formulas for distributing shares of real estate

Factual Questions
1

I’m engaged and we’re working on a prenup. The plan is to keep most of our assets separate. We also plan to purchase a condo together for our primary residence.

We worked on a formula for distributing the real estate if one of us dies, we separate, etc. The formula works and we both like it. Basically, the calculation is done (upon separation, etc.) based on each person’s down payment and borrowed amount, and a few other variables.

But we assume there must be standard formulas people use to do this sort of thing. When I saw my attorney last week, she wrote up something tentative that she seemed to be coming up with on the spot, and upon later examination there were some problems with it (such as: my SO could contribute to the condo but end up owning zero percent!).

So our questions are: a) Are there standard formulas that people use for this? b) If so, how can we access them? Are they available online anywhere?

2

(bump) Anyone?

3

I work in real estate. That is much too complicated for a message board. You are talking about complex legal issues.

You need a real estate attorney.

4

I concur, although I’d suggest a domestic relations attorney, preferably one who knows a bit about probate law and estate planning.

5

Yes, we each have attorneys, but nevertheless, does anyone have an answer to my question? Are there standard formulas for this sort of thing, and where are they available?

6

No. There are some formulas, but they tend to be tailored to the specific needs of the client.

Mostly form books. Sometimes courts get specific about apportioning real estate in partition cases. But the cases tend to be pretty fact-intensive. *E.g., * http://caselaw.lp.findlaw.com/scripts/getcase.pl?court=mn&vol=appunpub\9911\772&invol=1

Here’s a book: Amazon.com

Here is a form cohabitation agreement that gives some basic formulae, but it is probably less detailed than what you’ve already got. Agreement

Seriously, if you’ve got two lawyers involved, you should probably rely on their expertise in these matters instead of looking for a standard formula.

7

Thanks for the info, we already have the Nolo prenup book, and it was very helpful but it does not contain formulas for this kind of thing.