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not sure if this is the right forum for this but i have a question. i've seen/heard multiple times that if you want to buy a house with your significant other you should get married first. i'm just curious as to why people make that argument.
let's say you have one couple who is in a long term relationship and buy a house together and then they break up. and you have a second couple who is married and buy a house together and then they get divorced.
what would the difference be between the two situations in regards to selling the house? i guess i'm just trying to understand why it's a better situation to be married first. are there different legal ramifications for the two situations? or is it only if one person makes a substantially higher amount of money than the other? what if both people make around the same amount?
not sure if this is the right forum for this but i have a question. i've seen/heard multiple times that if you want to buy a house with your significant other you should get married first. i'm just curious as to why people make that argument.
let's say you have one couple who is in a long term relationship and buy a house together and then they break up. and you have a second couple who is married and buy a house together and then they get divorced.
what would the difference be between the two situations in regards to selling the house? i guess i'm just trying to understand why it's a better situation to be married first. are there different legal ramifications for the two situations? or is it only if one person makes a substantially higher amount of money than the other? what if both people make around the same amount?
Both situations are handled the exact way. I have done both and honestly, not being married was easier in that we didn't have to make it part of a divorce settlement.
The house were jointly owned so we had equal rights/investment.
Both situations are handled the exact way. I have done both and honestly, not being married was easier in that we didn't have to make it part of a divorce settlement.
The house were jointly owned so we had equal rights/investment.
i actually was thinking wouldn't it be easier to not be married? but since i have never bought a house or gotten divorced, i have no idea how the situations play out. so i was always curious why people always rush to say "make sure you get married first!!" lol
i actually was thinking wouldn't it be easier to not be married? but since i have never bought a house or gotten divorced, i have no idea how the situations play out. so i was always curious why people always rush to say "make sure you get married first!!" lol
I don't get the advice myself. Now, since I have done it a few different ways. My favorite is to own the property by myself and just collect rent from your significant other. That ways you always have a home and stability, if the relationship goes south.
I don't get the advice myself. Now, since I have done it a few different ways. My favorite is to own the property by myself and just collect rent from your significant other. That ways you always have a home and stability, if the relationship goes south.
true! but then you have to do the whole down payment yourself, right?
The thought is that if you aren't married, you aren't ready to make a lifetime commitment and thus should not be buying real estate together. If you have no intention of ever marrying your partner, that is a different story, but if you aren't sure it isn't going to work out yet...yeah, I wouldn't do that either.
The thought is that if you aren't married, you aren't ready to make a lifetime commitment and thus should not be buying real estate together. If you have no intention of ever marrying your partner, that is a different story, but if you aren't sure it isn't going to work out yet...yeah, I wouldn't do that either.
i get that, i guess it's just that a lot of marriages end in divorce anyway. like there is never a guarantee. but yeah, i guess if you've only been dating for a little while it doesn't make sense to make that kind of purchase.
The thought is that if you aren't married, you aren't ready to make a lifetime commitment and thus should not be buying real estate together. If you have no intention of ever marrying your partner, that is a different story, but if you aren't sure it isn't going to work out yet...yeah, I wouldn't do that either.
Well then this confirms it is outdated advice. Real estate is no longer a lifetime commitment. Neither is marriage for that matter.
I made the most money on a house I bought with an ex for 3% down, and sold 18 months later. Neither of us regretted buying it. We even got married and bought another. Made money on that one. I bought my third completely in my name and continue to do so now. Even if I was married, I would never add a spouse to my home title.
not sure if this is the right forum for this but i have a question. i've seen/heard multiple times that if you want to buy a house with your significant other you should get married first. i'm just curious as to why people make that argument.
let's say you have one couple who is in a long term relationship and buy a house together and then they break up. and you have a second couple who is married and buy a house together and then they get divorced.
what would the difference be between the two situations in regards to selling the house? i guess i'm just trying to understand why it's a better situation to be married first. are there different legal ramifications for the two situations? or is it only if one person makes a substantially higher amount of money than the other? what if both people make around the same amount?
There's a whole bunch of legal mumbo jumbo that varies by state. There's also a difference if both parties who are unmarried are on the mortgage. Are they both on the deed? If not, then in most states you don't the house at all.
If you're married and purchase the house after the fact, in many states you are part owner regardless if you're on the mortgage or not. Being married completely changes many things legally. Amazing what a piece of paper does!
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