Before you purchase a home with your boyfriend or girlfriend, think twice! If both names are on the deed, just as in a marriage, both names need to be on the listing agreement and both people need to sign at the closing table!
I received a call today from a young man who purchased a home with the person he assumed would be his partner forever. They purchased a great home together and now, a few years later, they have parted ways. One has left the home and the other is still there. One wants to sell, the other wants to stay.
Just as in a marriage, if you have your name and another person's on the deed for that home, you both have to sign all of the paperwork to sell, unless the other person buys you out.
I have seen this before, a young couple purchasing together before they marry and then having the relationship go south. It is sad but everyone needs to remember, as far as the law is concerned, you are both responsible for that home. It isn 't like renting and moving on. As for advice, my advice is: "Get an attorney, I am a Realtor and not qualified to give legal advice."
Comments(28)