But both of those terms are spelled out in the purchase agreement.

Validity may not have been the best choice because I have to spell it out for most people.I always abbreviate checks and such, Validity HBC.Really doesn't matter too much because I formed an LLC partnership with it and an LLC I have for tax reasons.

Put everything in writing, and spell out everything... nothing worse than family deals gone bad.

Jon makes many valid points.I agree, don't supply a washer or dryer...avoid headache.With trash pick up and the back yard...what ever you decide spell it out in a lease.

I won't spell out that case here, but land appreciates and improvements depreciate.

I spell Florida / Floridah these days.

If there was a written agreement, spelling out the terms of the agreement, and you both of you agreed to them and signed them, they have to be honored.

The Operating Agreement for the LLC will spell out other agreements with members (you and your wife), and it sounds like 50/50 for capital, profits, and losses.

yes its spelled that way.)I hope the USA's economy and dollar remains strong, for my kids sake.Go All Blacks!

All of this is negotiated and spelled out in your operating agreement your attorney sets up.Expectations have to be clearly defined and agreed to UPFRONT as equitable for all involved.