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The Perils of Unwed Partners Buying Property

Every couple in love has problems visualizing a time that they won't "be together" and discussing "what if" scenarios is not something they're keen on doing. But, if they're thinking of buying a home together, Ed Silva does a great job pointing out some of the possible pitfalls.  Unwed partners might do well to remember "an ounce of prevention is worth a pound of cure" and to look before they leap.
The Perils of Unwed Partners Buying Property
So many people have the desire to own property as a way to establish permanency and build a comfortable home with limited outside interference. With a more traditional married couple it is somewhat easy, depending on the state of their finances. For less traditional, non-married couples there may be issues with the purchase because of credit but that’s where the easy part is resolved.
Not all relationships remain harmonious and if there is a separation of the couple, the property held jointly can be a real problem to liquidate. I have recently had two instances where the sale of a home, with a non-traditional couple required extensive legal proceedings before the home was ready to be listed.

Un-wed Younger Couple:  Love ... more

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