Poll: Moving a partner into an owned-home? Finances

Options for finances?


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Associate
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19 Sep 2014
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Scenario: Person A owns house, pays mortgage. Person B wants to move in. Not married.


Options for finances?

a) Split equity agreement and share mortgage payments at agreed rate for dual ownership

b) A pays mortgage, B pays bills

c) B freeloads

d) other?


Interested in hearing which options above, or others not listed, any of you folk have adopted.. and any potential challenges/risks associated..
 
Man of Honour
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Less than a minute for the normal response, that's got to be a record!

If everyone on this forum shared the paranoid view of the few we'd all be living alone forever.
 
Soldato
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South Wales
I'm currently doing this with my GF but she owns the home. As it's her mortgage she pays it and then we go half on the rest of the bills. The plan is to put me on the mortgage as well but when we have been together for a few years.
 
Soldato
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Get her to sign something which states she does not have any right to your property. Make sure it's legally binding, half living bills.

Make sure you cover your self.

KaHn
 
Associate
OP
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Or you can make the whole thing seem like you're more concerned with a future in which the relationship has broken down than you are with your future together.

Start things off on the right foot.

Most of my friends are paranoid about this kind of stuff. A few of them have been divorced, including one of my brothers, so I guess it can make you paranoid.

I always thought that if I met someone (again) who I would want to buy a house with, then I would sell mine/keep_as_investment and we'd buy something together. Not everyone wants to move into someone elses home.
 
Soldato
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More background information would be needed. How long have said people been together?How long has the mortgage been paid for? What is the financial position of each person?

As said above, you should be speaking to the other person involved rather than a bunch of nerds.
 
Associate
OP
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As said above, you should be speaking to the other person involved rather than a bunch of nerds.

This isn't a decision I am trying to make at the moment, it's a long way off. The thread was out of general curiosity on what people tend to do, if there are any common patterns etc.
 
Soldato
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She doesn't need her name on the house, by all means have her move in, let her contribute to the bills and food etc, or even just cover them for you both. You pay the mortgage. Then maybe in a few years you could reassess.
 
Man of Honour
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Some food for paranoid thought:
The court will have to look at the intention behind these payments, e.g. did you make the payments as a gift, a loan, or payment of rent, or for example, was it intended by you and your partner that you should have an interest in the property ?

If you are not a joint owner of the property you may still be able to claim an interest in the property if you can show you have contributed to the property in other ways. For example, by paying for improvements to the property, or if you paid the deposit or part of the purchase price. Or if you are paying money towards the mortgage repayments.

It is important to keep details of any payments you make as you will need to prove you have made these payments in order to establish your interest in the property. You might be able to argue that your partner promised you a share in the property. You will need to explain how and when this promise was made. Your argument will be stronger if you have a witness who was present when this promise was made. If you can prove this then the court may force your partner to keep that promise and grant you an interest in the property.

If you can show your partner made promises that you would have a share of the property and you relied on this and spent money on the property, the court may stop your partner from going back on his or her word.

The court can decide how much your stake in the property is worth. The court can make orders to restrict or exclude one partner from occupying the property. Or set conditions that the person remaining in the property pay all the bills and other expenses, or take over any responsibilities connected to the property.

The court can also order that partner to pay compensation to the partner who has to leave the home. The court can also order one partner to give up any payment or benefit connected to the property, for example rent.
 
Soldato
Joined
13 May 2003
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8,848
It's not very romantic but the scope of your potential loss could be huge. Seek some legal advice like the Citizens Advice Bureau. My general assumption was if they were contributing they had a claim, if they were renting they didn't.

Say you break up for whatever reason most of the time there will be no problem. But sometimes people can behave quite differently and seemingly out of character. If the position is clear it will be less painful. I know a few people who have had sleepless nights worrying about an Ex claiming against their assets and all of them had wished they had clarified the situation at the start.
 
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