Home and Housing
Buying a property with a partner
Summary
It is common for unmarried couples to purchase a property together with their joint incomes and assets. However, few couples realise, from a legal point of view, the potential implications if they split up. We’ve answered some frequently asked questions to help clarify what legal protections you can have in place when purchasing with a partner. Before going ahead you should consider :- * How much each of you is contributing to the deposit and outgoings after purchase. * Will the equity be owned 50:50? If not, ensure that you enter into a co-ownership deed at the time you purchase. * Will you hold the equity in the property as joint tenants or tenants in common? * Whose name will the mortgage be in - a sole name or your joint names? * Your earnings and your partner’s earnings - who will be contributing to what outgoings and in what proportion? * Will you own the property as joint tenants or tenants in common? This will depend on many factors. How you own the property and whether any agreement was entered into regarding ownership when you first purchased. Whether you are married or simply cohabiting will also have an effect on legal implications and whether you have children.
Key information
- How much each of you is contributing to the deposit and outgoings after purchase.
- Will the equity be owned 50:50? If not, ensure that you enter into a co-ownership deed at the time you purchase.
- Will you hold the equity in the property as joint tenants or tenants in common?
- Whose name will the mortgage be in - a sole name or your joint names?
- Your earnings and your partner’s earnings - who will be contributing to what outgoings and in what proportion?
- Will you own the property as joint tenants or tenants in common?
- It is common for unmarried couples to purchase a property together with their joint incomes and assets. However, few couples realise, from a legal point of view, the potential implications if they split up. We’ve answered some frequently asked questions to help clarify what legal protections you can have in place when purchasing with a partner.
- How much each of you is contributing to the deposit and outgoings after purchase.
- Will the equity be owned 50:50? If not, ensure that you enter into a co-ownership deed at the time you purchase.
- Will you hold the equity in the property as joint tenants or tenants in common?
- Whose name will the mortgage be in - a sole name or your joint names?
- Your earnings and your partner’s earnings - who will be contributing to what outgoings and in what proportion?
Practical guidance
- Source: Buying a property with a partner
Related topics
More in this area
Sources
- Taylor Rose — Buying a property with a partner
This is signposting information from the Legal Shaman wiki, not legal advice. Always consult a qualified solicitor for your situation.