Buying property, partners name will not be on deeds/mortgage. Am i at risk?

SimpNation · 26-05-2020 03:33PM #1

Hello,

My current situation is as follows. I am a 37 year old male living in a house shares the past 11 years. I started saving for a deposit in 2013 and now have around 50% deposit for the type of property i am interested in.

I will be purchasing this property in my name as a single applicant, my partner and i have been together years and she has her own property in her name. She also has a son and we plan to move into my place and she will rent hers out.

My question is, if we separate will she be entitled to anything even if the mortgage/property is not in her name? I've heard some horror stories but spoke to a friend from secondary school who is a solicitor and said i have nothing to worry about, curious if anyone has any insight on this.

thanks

Jizique · 26-05-2020 03:36PM

SimpNation wrote: »

Hello,

My current situation is as follows. I am a 37 year old male living in a house shares the past 11 years. I started saving for a deposit in 2013 and now have around 50% deposit for the type of property i am interested in.

I will be purchasing this property in my name as a single applicant, my partner and i have been together years and she has her own property in her name. She also has a son and we plan to move into my place and she will rent hers out.

My question is, if we separate will she be entitled to anything even if the mortgage/property is not in her name? I've heard some horror stories but spoke to a friend from secondary school who is a solicitor and said i have nothing to worry about, curious if anyone has any insight on this.

thanks

Are you sure your friend is a solicitor?
Does she specialise in family law?

JimmyMW · 26-05-2020 03:36PM

SimpNation wrote: »

Hello,

My current situation is as follows. I am a 37 year old male living in a house shares the past 11 years. I started saving for a deposit in 2013 and now have around 50% deposit for the type of property i am interested in.

I will be purchasing this property in my name as a single applicant, my partner and i have been together years and she has her own property in her name. She also has a son and we plan to move into my place and she will rent hers out.

My question is, if we separate will she be entitled to anything even if the mortgage/property is not in her name? I've heard some horror stories but spoke to a friend from secondary school who is a solicitor and said i have nothing to worry about, curious if anyone has any insight on this.

thanks

Go and speak with a family law solicitor, you would be surprised at what risk you may be leaving yourself open to, it will only cost you a few hundred for the proper advice.

Jizique · 26-05-2020 03:44PM

JimmyMW wrote: »

Go and speak with a family law solicitor, you would be surprised at what risk you may be leaving yourself open to, it will only cost you a few hundred for the proper advice.

Yes, get proper advice

Ray Palmer · 26-05-2020 03:47PM

OP yes you are at risk. Effectively you will be very similar to a married couple when it comes to assets. At any point she can sell her property and you would be entitled to nothing from the sale and then she can go for 50% of your property if you split as it will be a family home.

Nothing you can really do as any contract made up has no basis on the law. Either marry or don't but you are a lot less protected if you don't.

Yes there are horror stories because the laws don't offer you protection as if you are married and equally playing at it.

SimpNation · 26-05-2020 04:52PM

Ray Palmer wrote: »

OP yes you are at risk. Effectively you will be very similar to a married couple when it comes to assets. At any point she can sell her property and you would be entitled to nothing from the sale and then she can go for 50% of your property if you split as it will be a family home.

Nothing you can really do as any contract made up has no basis on the law. Either marry or don't but you are a lot less protected if you don't.

Yes there are horror stories because the laws don't offer you protection as if you are married and equally playing at it.

That is insane if true, two working professionals with their own properties but she would be entitled to half mine, backwards law right there. Thanks for your reply, i will consult a professional for advice.

SimpNation · 26-05-2020 04:52PM

JimmyMW wrote: »

Go and speak with a family law solicitor, you would be surprised at what risk you may be leaving yourself open to, it will only cost you a few hundred for the proper advice.

I will, thank you

SimpNation · 26-05-2020 04:54PM

Before i go, correct me if i am wrong but i thought i would be better protected against such a scenario if i wasn't married. A quick explanation would be great as i would like to be equipped going into see the solicitor and i have searched around on citizens advice and elsewhere online but there is no clear message on this.

26-05-2020 05:03PM

Ray Palmer wrote: »

OP yes you are at risk. Effectively you will be very similar to a married couple when it comes to assets. At any point she can sell her property and you would be entitled to nothing from the sale and then she can go for 50% of your property if you split as it will be a family home.

.

This is what most people think but it is incorrect.

Firstly you need to be 5 years living together before any rights under co-habitation rules (2 years if you have a child together).

Secondly she would only be entitled to compensation relative to what she has contributed. i.e. only in proportion of how much she contributes to the mortgage, upkeep or deposit etc.

If she pays nothing she is entitled to nothing. There is absolutely no such things as an automatic 50% entitlement.

You would be well advised to speak to a solicitor though also who is an expert in the area.

lawrencesummers · 26-05-2020 05:04PM

Is the mortgage in one or both names?
Is the house going to be in one of both names?

There was a time you could have mortgage in one name for the purposes of First time buyers, but the house papers with the solicitor could be in joint names.

If the mortgage and deeds are in one name and the other partner contributes to the house they should rightly have a claim on a portion of the property down the road.

More importantly is the rights of your partner if you die, check what the situation is with a solicitor. What happens with regards tax should she Inherit the house and not be a civil partner of yours, will she end up with a inheritance tax bill?

SimpNation · 26-05-2020 05:08PM

Selena Old-fashioned Peninsula wrote: »

This is what most people think but it is incorrect.

Firstly you need to be 5 years living together before any rights under co-habitation rules (2 years if you have a child together).

Secondly she would only be entitled to compensation relative to what she has contributed. i.e. only in proportion of how much she contributes to the mortgage, upkeep or deposit etc.

If she pays nothing she is entitled to nothing. There is absolutely no such things as an automatic 50% entitlement.

That is a welcome relief, thank you.

The house will only be in my name, all bills including electricity, insurance, internet etc will be in my name. She is fond of Sky TV and other such nonsense which i have no time for so do you think i should try get a broadband package with Sky in my name to cover that just in case? Or would such a small bill not count?

My main concern is that i can see myself wanting a child with her in the next few years tbh as she isn't getting any younger.

I appreciate you replying, i will still professional advice to cover myself just in case though.

jrosen · 26-05-2020 05:12PM

I was in the same situation. I had bought my property and my now husband had bought his. We moved into my place and the legal advise I got was to accept no money off him towards the mortgage. If I wanted too I could charge him "rent" and he would have protection as a tenant but nothing more.
We lived there and everything was in my name, I paid every bill and he contributed in cash. It all worked out well in the end but its foolish not to protect yourself.

SimpNation · 26-05-2020 05:12PM

lawrencesummers wrote: »

Is the mortgage in one or both names?
Is the house going to be in one of both names?

There was a time you could have mortgage in one name for the purposes of First time buyers, but the house papers with the solicitor could be in joint names.

If the mortgage and deeds are in one name and the other partner contributes to the house they should rightly have a claim on a portion of the property down the road.

More importantly is the rights of your partner if you die, check what the situation is with a solicitor. What happens with regards tax should she Inherit the house and not be a civil partner of yours, will she end up with a inheritance tax bill?

- House/mortgage will only be in my name
- All bills will be paid by me and in my name(except maybe Sky tv, will that cause an issue?
- If we have a child and we break up will she be entitled to any of the house even if i pay child support and she still has her property?

These are all concerns, plus the fact that she has a 12 year old son, it's hard to tell how well everyone will get along with living under the same roof.

Thanks for the reply, i will seek pro advice.

SimpNation · 26-05-2020 05:15PM

jrosen wrote: »

I was in the same situation. I had bought my property and my now husband had bought his. We moved into my place and the legal advise I got was to accept no money off him towards the mortgage. If I wanted too I could charge him "rent" and he would have protection as a tenant but nothing more.
We lived there and everything was in my name, I paid every bill and he contributed in cash. It all worked out well in the end but its foolish not to protect yourself.

Brilliant that's a good idea. Was your husband fine with that?

I suggested something similar with me paying for everything (even Sky) and she freaked out and it caused an argument. Maybe that's a red flag that i should bail from the relationship lol

lawrencesummers · 26-05-2020 05:28PM

SimpNation wrote: »

- House/mortgage will only be in my name
- All bills will be paid by me and in my name(except maybe Sky tv, will that cause an issue?
- If we have a child and we break up will she be entitled to any of the house even if i pay child support and she still has her property?

These are all concerns, plus the fact that she has a 12 year old son, it's hard to tell how well everyone will get along with living under the same roof.

Thanks for the reply, i will seek pro advice.

I think you need to look at two separate aspects and the time of buying a place is the right time to do so because you can put instructions in place with a solicitor

It’s morbid but important to talk about it. What instructions are in place if either of you die, and what if both of you die. Where does the property go, and what are the tax implications of such, keep in mind her child and the child’s father can be factors.

Essentially she is going to be your tenant by the sounds of it, Just paying minimal rent. (Best not say it like that to her though)

jrosen · 26-05-2020 10:43PM

SimpNation wrote: »

Brilliant that's a good idea. Was your husband fine with that?

I suggested something similar with me paying for everything (even Sky) and she freaked out and it caused an argument. Maybe that's a red flag that i should bail from the relationship lol

Yes but not initially. I felt it was still early on in our relationship. He earned more than me, would stand a better chance of financially recovery than I would have. Once explained he did understand.

c.p.w.g.w · 26-05-2020 11:46PM

OP, have ye guys not lived together at any stage?

Firblog · 27-05-2020 12:01AM

SimpNation wrote: »

Brilliant that's a good idea. Was your husband fine with that?

I suggested something similar with me paying for everything (even Sky) and she freaked out and it caused an argument. Maybe that's a red flag that i should bail from the relationship lol

I'd ask her to let you pay some of the bills for her house to let you have the same ' investment ' in her place as she would have in yours.

BrokenArrows · 27-05-2020 09:21AM

It's a ****ty conversation to have, but it's best to be honest about it and if it results in breaking up then it's a good thing you had that conversation.

But as mentioned, the law only comes into affect after 5 years. If you get close to 5 years then it's probably time to get married anyway.

If you want to avoid the hassle then why don't you both just buy the property together.

listermint · 27-05-2020 09:23AM

Selena Old-fashioned Peninsula wrote: »

This is what most people think but it is incorrect.

Firstly you need to be 5 years living together before any rights under co-habitation rules (2 years if you have a child together).

Secondly she would only be entitled to compensation relative to what she has contributed. i.e. only in proportion of how much she contributes to the mortgage, upkeep or deposit etc.

If she pays nothing she is entitled to nothing. There is absolutely no such things as an automatic 50% entitlement.

You would be well advised to speak to a solicitor though also who is an expert in the area.

Speak to a solicitor first. And dont take above as gospel either.

pwurple · 27-05-2020 09:28AM

SimpNation wrote: »

That is insane if true, two working professionals with their own properties but she would be entitled to half mine, backwards law right there. Thanks for your reply, i will consult a professional for advice.

Well, it's not 50%, and you would also have some entitlement to her assets, which I imagine are more than yours, as you are only buying now and she has a house already.

SimpNation wrote: »

The house will only be in my name, all bills including electricity, insurance, internet etc will be in my name. She is fond of Sky TV and other such nonsense which i have no time for so do you think i should try get a broadband package with Sky in my name to cover that just in case? Or would such a small bill not count?

My main concern is that i can see myself wanting a child with her in the next few years tbh as she isn't getting any younger.

You're quite the catch speaking about your girlfriend this way, aren't you.

SimpNation wrote: »

If we have a child and we break up will she be entitled to any of the house even if i pay child support and she still has her property?

SimpNation wrote: »

I suggested something similar with me paying for everything (even Sky) and she freaked out and it caused an argument. Maybe that's a red flag that i should bail from the relationship lol

Agreed, you should bail. Especially as you are already planning on impregnating her, abandoning the child to her care and then finding the bare minimum amount you need to pay towards your own offspring. Vomit inducing.

Graham · 27-05-2020 09:46AM

Mod Note

One re-reg troll, much controversy.

As the OP has been banned I'm going to close the little meander through Mittyville.

Buying property, partners name will not be on deeds/mortgage. Am i at risk?

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