If you owned the home together, and were both on the mortgage, the partner that pays the mortgage is entitled to be reimbursed by the other partner for one half of the mortgage payments. If either of the partners remain in the home, the partner that is not in possession would be entitled to receive 1/2 of a fair rental price as a set off against his 1/2 of the mortgage payments.
Assume a mortgage payment of $1000 and a fair rental value of $600. Partner who is not living in the property would owe $500 less 1/2 of the fair rental value, so $200. a month. There may be other things like taxes and upkeep tacked on.
If you'd like to discuss, please feel free to call.
Gold, Benes, LLP
1854 Bellmore Ave
Bellmore, NY 11710
Email - Jgold@goldbenes.com
The party who is paying the mortgage is entitled to reimbursement of 1/2 of the mortgage offset by use and occupancy, ie rental value from the party who is in possession.
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