My boyfriend and I are planning to buy a home together, but the mortgage will be in his name. How can I protect my investment?

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How can I legally protect myself if my boyfriend and I are planning to buy a home together, but want to be prepared in case we break up?

Dear MarketWatch, I purchased my condo back in 2008 for half of the price my condo got appraised for. Since then I have met my boyfriend and we had two kids so we are busting out of the seams from my condo.

Do you have a question about buying or selling a home? Do you want to know where your next move should be? Email Jacob Passy at TheBigMove@marketwatch.com. But if you break up with an unmarried partner, or if a relationship with a friend or family member sours, there isn’t a clear-cut legal channel to hash out these issues. However, there are a number of steps you can take to protect yourself and your financial investment in this home.

According the New York- and Los Angeles-based law firm Spodek Law Group, for you as the non-borrowing co-owner of the home, should your boyfriend fail to make on-time mortgage payments, “the bank will still have recourse to sell the home to get repaid.” “Many couples are reluctant to discuss the “what if” we break up scenario,” Kiki Manti Engel, an attorney at Southern California law office Reid & Hellyer, wrote in a blog post. “However, it is vitally important for nonmarried co-owners of real property to have a written agreement in place to protect themselves.”

 

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So, you already don't trust your partner. Oh, THIS is going to go well! 🤣

Lawyer.

horrible

Get married

Get on the deed. Problem solved

That’s just a no brainer, you contributed to the down payment, of course your name should be also on the ownership!! Some people are stupid!!

Go on the deed. Half yours then

You all must be putting it in his name only because your credit score sucks! There would be no other logical reason to put the shared investment in his name only. So, start there. Pay your bills and get your own stuff together before risking your money like this. Duh!

Buying a home together implies you’re both taking financial risk via down payment and/or pledge to repay the mortgage. If you’re making any pledge or putting up money, your name belongs on the deed. Otherwise, take a pass.

I would have something in writing saying your contributed to this investment.

Simple. Marry Him.

mortgage is in his name so what makes you think it was your investment in the first place....gold digger

good

Bitcoin

By not buying a house with your boyfriend!!! If you are able to buy the home in your name only, do so. He can stay there too and if you decide to marry him in the future, you can put his name on the deed after the wedding if you want.

Get married first?

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don't mix your money. Define who pays what & stick to it. no joint accounts. title is Tenancy in Common.

RIP homey.....................................

thanks

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