Timeline for Letting a partner in on home ownership gradually
Current License: CC BY-SA 4.0
22 events
| when toggle format | what | by | license | comment | |
|---|---|---|---|---|---|
| Oct 10, 2019 at 0:00 | history | tweeted | twitter.com/StackFinance/status/1182083443984928768 | ||
| Oct 8, 2019 at 16:44 | answer | added | Bob Baerker | timeline score: 2 | |
| Oct 8, 2019 at 15:28 | answer | added | Lawrence | timeline score: 1 | |
| Oct 8, 2019 at 15:13 | comment | added | RonJohn | @HartCO good point regarding commingling. Prenups handle that, though. | |
| Oct 8, 2019 at 14:57 | comment | added | Hart CO | @RonJohn That's why I went with 'could' but if you had re-mortgaged to include your ex would it still have been viewed as property you brought into the marriage? | |
| Oct 8, 2019 at 14:57 | comment | added | user1723699 | @Juniper83 Not having him pay any rent is way more than fair, he can invest that money he would otherwise be spending in other ways that would not complicate things if you two were to split up. Index funds as mentioned above would be a great choice. He would be the one coming out ahead in that situation so if anything, the current situation is less fair to you. | |
| Oct 8, 2019 at 14:55 | comment | added | Hart CO | @Juniper83 I'm with you on that one, it does seem unwise to me. Some people never get married but have strong committed lifelong relationships, that's fine, but there are so many examples of muddy financial situations due to relationships ending. It's good you are thinking about the complications up front. | |
| Oct 8, 2019 at 14:55 | comment | added | RonJohn | @HartCO not where I live. Anything you own coming into the marriage is what you get going out (which is what happened in my divorce). | |
| Oct 8, 2019 at 14:54 | answer | added | RonJohn | timeline score: 2 | |
| Oct 8, 2019 at 14:51 | comment | added | Hart CO | @RonJohn Yeah, if married they could be entitled to half without contributing much/anything. My point is if there is unease or lack of commitment, probably shouldn't mingle finances. | |
| Oct 8, 2019 at 14:51 | comment | added | Juniper83 | @Dugan That's an interesting point. Thanks. | |
| Oct 8, 2019 at 14:50 | comment | added | Juniper83 | Yes, nothing in life is certain, but if we were promising each other to stay together I'd take that risk and just let the house be owned 50-50. With no promise or even hint that we're going to be together forever, that seems unwise. | |
| Oct 8, 2019 at 14:44 | comment | added | RonJohn | @HartCO but there are existing well established legal processes in place for handling divorce. | |
| Oct 8, 2019 at 14:43 | comment | added | Dugan | If your goal is just to be nice and help him supercharge his savings he might be better off just investing his savings in index funds which earn ~10% interest annually. There are a lot of reasons that a house is not a great investment and these are probably even more pronounced when you're a part owner with someone you're not married to. | |
| Oct 8, 2019 at 14:43 | comment | added | Juniper83 | @user1723699 Well of course I wouldn't be gaining from it. The point is to be more fair to him. At present he doesn't have an ownership stake but at least he can save the money he would be paying on rent if he was living elsewhere. But really I have the better deal here, I should be trying to make things a bit fairer. | |
| Oct 8, 2019 at 14:38 | history | edited | Juniper83 | CC BY-SA 4.0 |
added 37 characters in body
|
| Oct 8, 2019 at 14:37 | comment | added | Hart CO | "My boyfriend is trustworthy but we are not married or engaged or anything so the relationship could end at any point." Marriages end very frequently too. If you have concerns about the complications of things ending, then it doesn't sound like you're ready to mingle your finances. | |
| Oct 8, 2019 at 14:37 | comment | added | user1723699 | It would be in your best interest to not let him in on your home ownership because at any minute your relationship could dissolve and you would be left in a precarious situation. You have very little to gain by this arrangement and a lot to lose, you would be better off charging him rent but not giving him any ownership stake. | |
| Oct 8, 2019 at 14:34 | comment | added | 88892 | "If he starts paying money onto the mortgage, will the house just suddenly belong 50% to him?" not in my country. Ask a lawyer. | |
| Oct 8, 2019 at 14:33 | comment | added | RonJohn | This is a very good question, and am glad that you are thinking of this sooner than later. See this recent question (one among many on the site) for how things go wrong: money.stackexchange.com/questions/115374/… | |
| Oct 8, 2019 at 14:25 | review | First posts | |||
| Oct 8, 2019 at 14:46 | |||||
| Oct 8, 2019 at 14:21 | history | asked | Juniper83 | CC BY-SA 4.0 |