Can Unmarried People Buy Real Estate Together?
August 31st, 2008 By Peter G. Miller
Sure.
Our society, and laws, provide certain benefits for wedded couples. Thus, if two people who are not married wish to buy real estate together, that’s fine. But a few caveats are in order.
First, there should be a written agreement among the parties showing who owns what, the rights and obligations of each party, what happens if someone wants to sell (and someone else doesn’t), how profits and losses are to be handled, survivorship, how disputes are to be resolved, etc.
Second, all parties to the purchase should have wills and living wills. These are important documents that can protect the assets of each buyer in case of death or incapacity.
Please see an attorney for details, including the best way in which to hold title.
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