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

Discussion in 'General Discussion' started by ov_sjo, 12 Oct 2016.

?

Options for finances?

  1. Split equity agreement and share mortgage payments at agreed rate for dual ownership

    23.0%
  2. A pays mortgage, B pays bills

    36.1%
  3. B freeloads

    8.7%
  4. Pancake

    32.1%
  1. Reginald

    Wise Guy

    Joined: 24 Aug 2008

    Posts: 1,312

    Location: London

    Hey ov,
    Any reason you're so keen to put your partner on the house? Guessing it's serious?

    If you want to share - I would draw something up with legal assistance stating who has put what into the property. E.g. when my partner and I bought, my parents gave me some extra money so we ensured that the ownership % reflects this. It's not harsh, and I hope we'll be together forever but it's just fair and smart to protect your investments.

    You could draw up something similar stating that e.g. 40% of the property is yours (the equity that you own in the house), and that the remaining 60% is split equally (or by whatever ratio) depending on your contributions moving forward? As long as you get out what you put in, that's fine.

    I have a couple of friends who we all think are heading for divorce, but he has put everything into their house and now they're married - so he'd lose a lot... It's kind of sad as we think they would have already split up and been happier if they didn't have this financial issue hanging over them.

    Make sure what you do is flexible enough to support whatever decisions you end up making without leaving you in any difficulty.
     
  2. SPG

    Soldato

    Joined: 28 Jul 2010

    Posts: 7,152

    Come back when you actually stop living in a dream world, this is exactly what happens. First hand experience pup.
     
  3. nick.lidgett

    Mobster

    Joined: 31 Oct 2011

    Posts: 2,550

    Location: Leyland

    Get a grip of yourself, i lost two shops and a house in my divorce, had it all and now work a 9-5 in construction, renting a house from a greedy private landlord.

    wouldn't dream of making somebody sign anything to live with me, it's only stuff.
     
  4. robgmun

    Capodecina

    Joined: 30 Apr 2006

    Posts: 16,326

    Location: London

    Says the man who lost it.

    Not everyone is a sucker like that
     
  5. atpbx

    Capodecina

    Joined: 21 Oct 2002

    Posts: 21,452

    No she wont.

    Thats not how it works.

    There are marital and non marital assets, non marital assets are items and financial interests solely owned by him, that the other party has not contributed to in any way.

    For instance, if a member of my family dies, and specifically leaves ME by name £100,000,000 and I deposit that into an account with my name on it and my name only.
    My wife is entitled to none of it.

    If I put it in an account with both our names on it, it becomes 50% hers.

    Houses are different, if you own one house, and you move her in, it becomes the marital home, and it, and any profit from the sale of it are 50% hers.
     
  6. Ocean Breeze

    Hitman

    Joined: 1 Jul 2009

    Posts: 724

    Location: Shropshire/Paris

    Only stuff that you have been working your entire life for and making sacrifices for, all that time spent working etc. The stupidity of some people is shocking.

    I'd be going to to see a lawyer and would pay whatever the fees are for a legally binding bullet proof agreement.
     
  7. LeeUK

    Soldato

    Joined: 1 Mar 2008

    Posts: 5,441

    ********. If that was the case then there wouldn't be the need for this thread in the first place.
     
  8. Hades

    Caporegime

    Joined: 19 Oct 2002

    Posts: 25,652

    Location: Surrey

    If the 100k was left to you before marriage then you are right. But if you inherit it after marriage then your wife is entitled to half.
     
  9. j_walsh

    Gangster

    Joined: 1 Jan 2011

    Posts: 413

    What about the 100 million? ;)
     
  10. coolsurfer

    Hitman

    Joined: 11 Apr 2006

    Posts: 800

    Location: Yorkshire

    I'm married and wife still not on mortgage for our home. Still we have investment property in both names.
     
  11. nick.lidgett

    Mobster

    Joined: 31 Oct 2011

    Posts: 2,550

    Location: Leyland

    Hows that being a sucker?

    Lifes to short to spend worrying about material things.

    It was easier to just walk away with my sanity and make new money rather than stay and spend years fighting over "stuff".

    You cant take it with you.
     
  12. atpbx

    Capodecina

    Joined: 21 Oct 2002

    Posts: 21,452

    No, here is an actual lawyer telling you are incorrect:


    http://www.divorceresource.co.uk/marital-nonmarital-assets.html

    I shan't bother linking the 1500 odd other links google provides on the subject that also tell you that you are wrong.

    You are welcome.
     
  13. megakid

    Wise Guy

    Joined: 6 Jun 2004

    Posts: 2,389

    Location: London

    When my girlfriend moved into my flat, I had a short term tenancy agreement drawn up which we both signed (me as the landlord, her as the tenant) and she pays a small sum of rent every month
     
  14. Hades

    Caporegime

    Joined: 19 Oct 2002

    Posts: 25,652

    Location: Surrey

    Yes it's possible to separate assets in a marriage. But ultimately a judge will decide on what constitutes marital assets on divorce. It's not a simple matter of paying it into your own account.

    What for?