Me and my partner sold a house for a net of 125,315.59 in October of 2014. My partner took the entire proceeds of $25,315.59. We gave the buyer a 100,000 mortgage at 5% amortized over 25 years. the monthly payment was 584.29. All 73 of the payments went to me, I did not share any of the principle or interest with my partner. Approx. November 14, 2020, the mortgage was paid off. Me and my partner both received a check for $42,793.57. The loan balance at time of payoff was 85,480 and interest due was 107.13.
So that me and my partner split the proceeds of the sale 50/50, how much does my partner owe me?
thx
So that me and my partner split the proceeds of the sale 50/50, how much does my partner owe me?
thx