Hey ov,
Any reason you're so keen to put your partner on the house? Guessing it's serious?
If you want to share - I would draw something up with legal assistance stating who has put what into the property. E.g. when my partner and I bought, my parents gave me some extra money so we ensured that the ownership % reflects this. It's not harsh, and I hope we'll be together forever but it's just fair and smart to protect your investments.
You could draw up something similar stating that e.g. 40% of the property is yours (the equity that you own in the house), and that the remaining 60% is split equally (or by whatever ratio) depending on your contributions moving forward? As long as you get out what you put in, that's fine.
I have a couple of friends who we all think are heading for divorce, but he has put everything into their house and now they're married - so he'd lose a lot... It's kind of sad as we think they would have already split up and been happier if they didn't have this financial issue hanging over them.
Make sure what you do is flexible enough to support whatever decisions you end up making without leaving you in any difficulty.
Any reason you're so keen to put your partner on the house? Guessing it's serious?
If you want to share - I would draw something up with legal assistance stating who has put what into the property. E.g. when my partner and I bought, my parents gave me some extra money so we ensured that the ownership % reflects this. It's not harsh, and I hope we'll be together forever but it's just fair and smart to protect your investments.
You could draw up something similar stating that e.g. 40% of the property is yours (the equity that you own in the house), and that the remaining 60% is split equally (or by whatever ratio) depending on your contributions moving forward? As long as you get out what you put in, that's fine.
I have a couple of friends who we all think are heading for divorce, but he has put everything into their house and now they're married - so he'd lose a lot... It's kind of sad as we think they would have already split up and been happier if they didn't have this financial issue hanging over them.
Make sure what you do is flexible enough to support whatever decisions you end up making without leaving you in any difficulty.