The 6 do’s and don’ts of buying a property with your unmarried partner or family member;
- Do take independent legal advice from a Family Solicitor on the best way you can secure your share in the property now and in the future. You should do this especially if you are contributing more than your partner towards the purchasing price or towards the mortgage and improvements.
- Don’t sign any legal document such as a Deed of Declaratory Trust without seeking independent legal advice from a Family Solicitor first.
- Do think about what might happen if the relationship breaks down at some point and what you might want to happen.
- Don’t think that you will have ‘common-law’ partner’s rights, as they do not exist.
- Do consider the option of entering into a Cohabitation/Living Together Agreement, especially if you plan to or have children together.
- Don’t forget to seek assistance with preparing or amending your Will to protect your share in the property upon your death.