property when seperating
Discussion
Hi,
I have a couple of buy to lets in my name.
About to move and buy a house.
I would like to put my girlfriend on the deeds to the new house when we buy it, although she will not contribute in any way.
But i am concerned about what happens if we separate.
We are not married as yet.
I think that if we are joint owners then she has the right to half the house if we split.
Even if not married.
But i read that we could own unequal shares in the house.
Can anyone offer any info on this?
Would this still be possible if married?
If not married, she has no rights to the BTL properties as she has never contributed to anything.
Would that be different if married?
This all sounds a bit cold, but there's history here. The situation is more complicated on a personal level but not for these forums.
I have no intention of ever leaving her, but want to protect myself as best i can.
Any advice would be much appreciated.
I have a couple of buy to lets in my name.
About to move and buy a house.
I would like to put my girlfriend on the deeds to the new house when we buy it, although she will not contribute in any way.
But i am concerned about what happens if we separate.
We are not married as yet.
I think that if we are joint owners then she has the right to half the house if we split.
Even if not married.
But i read that we could own unequal shares in the house.
Can anyone offer any info on this?
Would this still be possible if married?
If not married, she has no rights to the BTL properties as she has never contributed to anything.
Would that be different if married?
This all sounds a bit cold, but there's history here. The situation is more complicated on a personal level but not for these forums.
I have no intention of ever leaving her, but want to protect myself as best i can.
Any advice would be much appreciated.
When I purchased my first house with my then girlfriend, I was providing the majority of the deposit but we were splitting the mortgage equally.
Had a declaration of trust setup saying that on the event of a sale following a split, we both take out our initial deposits and then split the remaining value equally.
Had a declaration of trust setup saying that on the event of a sale following a split, we both take out our initial deposits and then split the remaining value equally.
philv said:
I would like to put my girlfriend on the deeds to the new house when we buy it, although she will not contribute in any way.
Tell her that you'll be putting it solely in your name as she isn't contributing. If she kicks off, then do just that. If she says "yeah, that's fair enough, fine by me" then just stick her name on it. I have a declaration of trust with my now ex.
It's supposed to be legally binding. She's refusing the amount of money that the contract says she is due for me to buy her out.
The solicitor who wrote it has told me to pay for a mediator.
It's all a crock of sh*t if nobody is going to play by the rules.
It's supposed to be legally binding. She's refusing the amount of money that the contract says she is due for me to buy her out.
The solicitor who wrote it has told me to pay for a mediator.
It's all a crock of sh*t if nobody is going to play by the rules.
I have a deed of trust in place. I put in a lot more deposit in than she did and we have 100k equity in the house so far. If anything happens we just sell, I get my initial deposit back and so does she. Any profit thereafter is split 50:50. I have no issues with this although she contributes about 40% to the house and me 60%. I'm not going to haggle or argue over that. She suggested it to protect any inheritance for my first son to another partner and I wouldn't have bought the house without it.
Some will say you have trust issues and don't have such agreements in place. Others will say they didn't put such an agreement in place and are now seriously regretting it! You pays your money and makes your choice.
Some will say you have trust issues and don't have such agreements in place. Others will say they didn't put such an agreement in place and are now seriously regretting it! You pays your money and makes your choice.
philv said:
Hi,
I would like to put my girlfriend on the deeds to the new house when we buy it, although she will not contribute in any way.
But i am concerned about what happens if we separate.
We are not married as yet.
Just out of interest why would you want to do this if she is not contributing anything? It is amazing how someone who is "not interested in your money" will fight tooth and nail for what "they are entitled to" in the event of a break up. I would like to put my girlfriend on the deeds to the new house when we buy it, although she will not contribute in any way.
But i am concerned about what happens if we separate.
We are not married as yet.
Personally I think when someone who has a lot of assets gets with somebody who doesn't have any it is very likely to get very messy at some point.
In these situations it is all OK until suddenly it isn't.
Joey Deacon said:
philv said:
Hi,
I would like to put my girlfriend on the deeds to the new house when we buy it, although she will not contribute in any way.
But i am concerned about what happens if we separate.
We are not married as yet.
Just out of interest why would you want to do this if she is not contributing anything? It is amazing how someone who is "not interested in your money" will fight tooth and nail for what "they are entitled to" in the event of a break up. I would like to put my girlfriend on the deeds to the new house when we buy it, although she will not contribute in any way.
But i am concerned about what happens if we separate.
We are not married as yet.
Personally I think when someone who has a lot of assets gets with somebody who doesn't have any it is very likely to get very messy at some point.
In these situations it is all OK until suddenly it isn't.
On the obvious flip side, i'm getting on in life and don't want the huge set back that separation could bring.
My partner has just started mrnopause, which had its amusing aspects initially.
But i'm starting to see the downside now!
Joey Deacon said:
philv said:
My partner has just started mrnopause, which had its amusing aspects initially.
But i'm starting to see the downside now!
Do you mind me asking how your partner has managed to get to this age without owning property or having a deposit to go in with you on this house? But i'm starting to see the downside now!
Many people just don't earn enough to ever buy a place.
Joey Deacon said:
philv said:
Hi,
I would like to put my girlfriend on the deeds to the new house when we buy it, although she will not contribute in any way.
But i am concerned about what happens if we separate.
We are not married as yet.
Just out of interest why would you want to do this if she is not contributing anything? It is amazing how someone who is "not interested in your money" will fight tooth and nail for what "they are entitled to" in the event of a break up. I would like to put my girlfriend on the deeds to the new house when we buy it, although she will not contribute in any way.
But i am concerned about what happens if we separate.
We are not married as yet.
Personally I think when someone who has a lot of assets gets with somebody who doesn't have any it is very likely to get very messy at some point.
In these situations it is all OK until suddenly it isn't.
Vasco said:
Joey Deacon said:
philv said:
Hi,
I would like to put my girlfriend on the deeds to the new house when we buy it, although she will not contribute in any way.
But i am concerned about what happens if we separate.
We are not married as yet.
Just out of interest why would you want to do this if she is not contributing anything? It is amazing how someone who is "not interested in your money" will fight tooth and nail for what "they are entitled to" in the event of a break up. I would like to put my girlfriend on the deeds to the new house when we buy it, although she will not contribute in any way.
But i am concerned about what happens if we separate.
We are not married as yet.
Personally I think when someone who has a lot of assets gets with somebody who doesn't have any it is very likely to get very messy at some point.
In these situations it is all OK until suddenly it isn't.
A few deeds of trust have been challenged and as such solicitors are not as confident with them as they once were but I think it does show the spirit of the agreement and many people would just rely on it and if the exiting partner does not challenge then all is good.
Tenants in common alone with any % would not be enough.
Long term can have some iht and will implications if not planned for properly, with joint the house passes to the other owner with no iht, not so tenants in common, this can be useful if a trust is employed, it can also protect the house from long term care assessment if done properly.
Tenants in common alone with any % would not be enough.
Long term can have some iht and will implications if not planned for properly, with joint the house passes to the other owner with no iht, not so tenants in common, this can be useful if a trust is employed, it can also protect the house from long term care assessment if done properly.
Joey Deacon said:
Do you mind me asking how your partner has managed to get to this age without owning property or having a deposit to go in with you on this house?
I didn't have enough for a deposit until I was 50, and my mother died. I spent everything I earned and more. It's been great fun!What tends to happen in life in general obviously not all people are the same. Semi attractive woman galavants around the world spending money having amazing adventures building memories, free time partying etc. Similar guy ie you. Not so loose with money bit more boring climbs thencareer ladder a bit because (who buys a semi attractive tuba drink at a bar) these two cross paths later in life 30s say. She has a lesser paying job and zero funds behind her. They get a house together .
It goes wrong a few years down the line. She wants half the house assets. Judge sees that as fair.
He doesn't get half of the memories or fun or holidays that happened prior.
It goes wrong a few years down the line. She wants half the house assets. Judge sees that as fair.
He doesn't get half of the memories or fun or holidays that happened prior.
vulture1 said:
What tends to happen in life in general obviously not all people are the same. Semi attractive woman galavants around the world spending money having amazing adventures building memories, free time partying etc. Similar guy ie you. Not so loose with money bit more boring climbs thencareer ladder a bit because (who buys a semi attractive tuba drink at a bar) these two cross paths later in life 30s say. She has a lesser paying job and zero funds behind her. They get a house together .
It goes wrong a few years down the line. She wants half the house assets. Judge sees that as fair.
He doesn't get half of the memories or fun or holidays that happened prior.
A touch of bitterness perhaps?It goes wrong a few years down the line. She wants half the house assets. Judge sees that as fair.
He doesn't get half of the memories or fun or holidays that happened prior.
Caddyshack said:
vulture1 said:
What tends to happen in life in general obviously not all people are the same. Semi attractive woman galavants around the world spending money having amazing adventures building memories, free time partying etc. Similar guy ie you. Not so loose with money bit more boring climbs thencareer ladder a bit because (who buys a semi attractive tuba drink at a bar) these two cross paths later in life 30s say. She has a lesser paying job and zero funds behind her. They get a house together .
It goes wrong a few years down the line. She wants half the house assets. Judge sees that as fair.
He doesn't get half of the memories or fun or holidays that happened prior.
A touch of bitterness perhaps?It goes wrong a few years down the line. She wants half the house assets. Judge sees that as fair.
He doesn't get half of the memories or fun or holidays that happened prior.
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