When you buy a house with your partner, you must decide how you will own the property, or "take title.” Since in this context “title” is a synonym for “ownership,” your decision has huge and lasting consequences, particularly on estate planning issues. Assuming you are buying the house for
Any unmarried couple that plans to jointly own a house or other real property should prepare a written contract. When it comes to an investment of this size, it’s just plain nuts to try and wing it with pillow talk. If, later, your relationship becomes rocky, your memories of the details of a spoken
Sometimes when an unmarried couple decides to live together, one partner already owns a house and the other partner moves in. When this happens, issues of property ownership and how to deal with expenses inevitably arise. In some cases, the person moving in simply agrees to pay half (or some other agreed-upon
Despite your best intentions—just as is true for your married counterparts—statistics suggest that your relationship may not last forever. The anger and sense of loss that so often accompany a separation cannot be overcome by any law or counsel; emotional crises are best addressed through the help
Here are the chronological steps most unmarried couples follow after their decision to separate. Keep in mind that the more you are able to divide the emotional from the practical aspects of separation, the more likely you are to reach a fair and amicable settlement (easier said than done, we know).
Some unmarried couples who break up manage to do all the heavy lifting of separating their lives themselves with no help from outsiders, while others may need to use one or two formal dispute resolution methods at different stages of their separation. The more jointly owned property you have, the longer
If the two of you didn’t sign a joint house ownership agreement that sets forth your intentions in case of dissolution, you have two choices. You can either follow the legal procedures that apply in your state—typically this means the court will order the property to be sold, and the net proceeds
Questions What should a property agreement include? My partner and I are buying a house together. How should we cover that in our property agreement? My partner makes a lot more money than I do. Should our property agreement cover who is entitled to her income and the items we purchase with it? What
Here are some basic tips to keep in mind as you prepare a living together agreement. For details on preparing one or more agreements, see the sample living together contracts included here. 1. Talk it out and reach an understanding. Before you can prepare a written agreement covering ownership of your
Many people make purchases item by item, understanding that whoever makes the purchase owns the property. You could buy the kitchen table and chairs, and your girlfriend buy the lamp and stereo. If you split up, each keeps the property he or she bought. In this situation, you would use the Agreement
In some relationships, one person works outside the home while the other cooks, cleans, shops, and otherwise takes care of the place. This sort of division of labor can raise questions such as whether the homemaker should be compensated. One suggestion is to pay the stay-at-home partner a weekly salary.