Financial rights of girlfiend if she moves in with me
Discussion
Well I've been trying to avoid this since divorcing 15 years ago but after a series of exciting and fun filled relationships (most long(ish) term) with fairly hot younger women I now find myself reasonably in love/lust and from wanting a relationship where we see each other/go away at weekends and meet up midweek and holidays together my 15 year old (wait for it) younger than me girlfriend (yes she is hot with only a slight touch of the mental in a good way though!) typically wants to move the female goalposts (sorry but true) up the ante and move into my house with me although I must stress she is keener than I am on the idea. Most pals/guys/ gym buds I know in this kind of situation simply want things to remain the same from their perspective and basically I think I do too. But then I think again she is in many ways the perfect girl for me so I don't really want to lose her. I have known her 12 months and she certainly ticks all the boxes as well as being a petrolhead like myself. But....
Having discussed the idea with a number of my solicitors and usual legal experts non have convinced me despite having a Cohabitation agreement and Declaration of trust in place that if we subsequently split up she will not be able to rinse me well and truly for property equity and or other financial assets. So I thought I would ask legal experts seasoned PHers what their thoughts were being particularly keen to hear anyone who has gone through this and the subsequent outcome.
By way of background I managed to hang on to most of my assets after divorce and so I obviously don't want to lose them or even some of them now in middle age particularly as I worked so hard for them building up business etc to acquire reasonable wealth. My property cars and other assets are all paid for and I have no debt finance or pcp lol which in many ways makes them more vulnerable I guess.
Btw she has around £50k in cash saved earns a good salary actually goes out to work too (obvs a plus) and is already talking about paying for the (considerable) Council tax and monthly outgoings food etc buying stuff for my house and arranging for some minor improvements which quite honestly fills me with dread as this could potentially give her a vested interest in the property although I understand that the Cohabitation Rights Bill giving cohabitees financial rights after as little as 2 years living together is unlikely to be passed. Whilst Cohab agreements aren't law are they likely to become law and how much weight do they really carry if things should turn sour and we split? If I die would she be able to claim anything despite my will leaving everything to my 28 year old daughter?
So other than protecting myself by calling her the lodger with a rent book which obviously won't go down well from her pov should I take a possible huge gamble with what I have taken years to amass by letting her move in with me or should I run for the hills subscribe to saddos Match/e harmony etc and continue having superficial fun?
PH massif thanks for your thoughts its over to you I look forward to your replies!
Having discussed the idea with a number of my solicitors and usual legal experts non have convinced me despite having a Cohabitation agreement and Declaration of trust in place that if we subsequently split up she will not be able to rinse me well and truly for property equity and or other financial assets. So I thought I would ask legal experts seasoned PHers what their thoughts were being particularly keen to hear anyone who has gone through this and the subsequent outcome.
By way of background I managed to hang on to most of my assets after divorce and so I obviously don't want to lose them or even some of them now in middle age particularly as I worked so hard for them building up business etc to acquire reasonable wealth. My property cars and other assets are all paid for and I have no debt finance or pcp lol which in many ways makes them more vulnerable I guess.
Btw she has around £50k in cash saved earns a good salary actually goes out to work too (obvs a plus) and is already talking about paying for the (considerable) Council tax and monthly outgoings food etc buying stuff for my house and arranging for some minor improvements which quite honestly fills me with dread as this could potentially give her a vested interest in the property although I understand that the Cohabitation Rights Bill giving cohabitees financial rights after as little as 2 years living together is unlikely to be passed. Whilst Cohab agreements aren't law are they likely to become law and how much weight do they really carry if things should turn sour and we split? If I die would she be able to claim anything despite my will leaving everything to my 28 year old daughter?
So other than protecting myself by calling her the lodger with a rent book which obviously won't go down well from her pov should I take a possible huge gamble with what I have taken years to amass by letting her move in with me or should I run for the hills subscribe to saddos Match/e harmony etc and continue having superficial fun?
PH massif thanks for your thoughts its over to you I look forward to your replies!
Edited by av185 on Thursday 9th September 15:33
I didn't think the " Cohabitation Rights Bill" was an actual law as yet. As you are not married to your girlfriend as far as I am aware she has zero legal rights over any of your property or money should you split up.
As you say she has £50K cash, would you expect a share of that if you split up?
As you say she has £50K cash, would you expect a share of that if you split up?
hyphen said:
Does she want kids?
If 15 years younger and wanting to move in, kids is the logical next request. In which case you need to consider a bigger picture.
Sorry forgot to mention she has been married once now divoced she has 2 children aged 19 and 20 both fled her nest both good jobs so pay their own way. She can't have any more children btw.If 15 years younger and wanting to move in, kids is the logical next request. In which case you need to consider a bigger picture.
hyphen said:
V8covin said:
If it were me I'd sell up and buy a place together.
Or rent his place out and buy/rent a second place with girlfriend. So if they ever split, two homes available.Joey Deacon said:
I didn't think the " Cohabitation Rights Bill" was an actual law as yet. As you are not married to your girlfriend as far as I am aware she has zero legal rights over any of your property or money should you split up.
As you say she has £50K cash, would you expect a share of that if you split up?
You are correct it isn't law...yet.As you say she has £50K cash, would you expect a share of that if you split up?
Even so the issue arises if she puts capital into 'improving' my house this could give her a potential interest ££ in it should we subsequently split.
hyphen said:
Do you know if her divorce was amicable or fought in the courts? As that will give you an idea as to how she may be during your breakup.
If her ex is mates with her then a good sign.
Yes good point I know everything was amicable and she isn't a money grabber. What could possibly go wrong....If her ex is mates with her then a good sign.
hyphen said:
Do you have any kids? Can you put the house into a trust for them so out of reach?
Daughter aged 28 who is the sole beneficiary in my Will.By contributing to the cost of house improvements and bills I understand this could well give her (my girlfriend) a share of the property if we split. Also a right to occupy it if I kick it. Also a right to other assets. Scary stuff.
I would not have believed that a live in girlfriend could have any rights whatsoever to claim property rights after a split but apparantly this is increasingly the case Cohab agreement or not.
anonymous said:
[redacted]
Even though the STI was likely an infection not a Subaru she still got a great result.I wouldn't mind giving her an uplift in house value for the relevant dates of occupation on a proportionate basis only of her £50k input but thats not 50 50 and nowhere near. More like 1 50
This is the problem and what scares me.
troika said:
My father did similar. They then got married, divorced 10 years later. She walked in with nothing, no kids together, walked out with two thirds of his net worth. Be very, very careful.
Yes marriage rights are more cut and dried giving the 'wife' way more protection than a live in girlfriend financially in the event of a split.But unfortunately it appears previously unprotected live in girlfriends could well be morphing into 'wives' financially following a split. Not good.
Gassing Station | Finance | Top of Page | What's New | My Stuff