Recommend a lawyer before moving in with girlfriend

[digi355]

The girlfriend and I are building a house together. She’s putting in $X, I’m putting in $Y.

We want something written down that says, we put different amounts in, if living together doesn’t work, we’re entitled to our money back, plus half of whatever the house has appreciated. We're both assuming we'll need a lawyer to handle this?

I know someone had a thread about this, but I couldn’t find it.

Has anyone done this, any recommendations?

[gretz]

Originally posted by digi355
The girlfriend and I are building a house together. She’s putting in $X, I’m putting in $Y.

We want something written down that says, we put different amounts in, if living together doesn’t work, we’re entitled to our money back, plus half of whatever the house has appreciated. We're both assuming we'll need a lawyer to handle this?

I know someone had a thread about this, but I couldn’t find it.

Has anyone done this, any recommendations?

lol... don't do it

[Kloubek]

There are free documents online that you can use to do this yourself. You just need a witness. Do a google search for "prenuptual (sp) agreement". In essence, that is what you will be creating due to our stupid common-law rules.

Smart move, BTW.

[Hakkola]

Half? Are you both putting in the same amount?

[G]

If X and Y are different amounts then the amount appreciated should be split by the same ratio too.

To make this easier just put in exactly half each. Make sure both names are on the mortgage and title.

[Kloubek]

Originally posted by Hakkola
Half? Are you both putting in the same amount?

If it would be half, then she'd be putting in X and he'd be putting in X. Furthermore, it would nullify the requirement for such a document.

G: It isn't likely they are in the exact same financial situation, and therefore I'm betting going half and half isn't likely a possibility.

[Hakkola]

Originally posted by Kloubek


If it would be half, then she'd be putting in X and he'd be putting in X. Furthermore, it would nullify the requirement for such a document.

Which is why I was confused by the half and half for appreciation. I can't understand why anyone would agree to this.

[G]

Originally posted by Kloubek


If it would be half, then she'd be putting in X and he'd be putting in X. Furthermore, it would nullify the requirement for such a document.

G: It isn't likely they are in the exact same financial situation, and therefore I'm betting going half and half isn't likely a possibility.

Maybe it isn't the right time to make such a large purchase then? Either marry her, half/half or 100% yourself with a prenup.

But honestly speaking, where are not talking millions here. If you don't trust her with your thousands then maybe you should reevaluate your relationship.

If was easy for me. We both had nothing when we met.

[digi355]

Originally posted by G
If X and Y are different amounts then the amount appreciated should be the same ratio. To make this easier just put in exactly half each. Make sure both names are on the mortgage and title.

I have more of a downpayment than she does because I have equity in the place I live at now.

When we move in, the bills will be spilt in half, both our names are on the title and mortgage.

I’ve thought about the whole, "I put in more than you, so I should get more of a return" scenario, but it’s just not worth it to me.

We built it together, saying I deserve more than her because I have more $ is kind of a douche move. She’s been really good about signing whatever I want to protect what I’m brining in.

At the end of the day, as long as I can walk away with what I brought in, I’m cool.

[G]

Like I said its only a nominal amount of money here. Good on you for having faith in her.

Originally posted by digi355


I have more of a downpayment than she does because I have equity in the place I live at now.

When we move in, the bills will be spilt in half, both our names are on the title and mortgage.

I’ve thought about the whole, "I put in more than you, so I should get more of a return" scenario, but it’s just not worth it to me.

We built it together, saying I deserve more than her because I have more $ is kind of a douche move. She’s been really good about signing whatever I want to protect what I’m brining in.

At the end of the day, as long as I can walk away with what I brought in, I’m cool.

[Neil4Speed]

Originally posted by digi355


I have more of a downpayment than she does because I have equity in the place I live at now.

When we move in, the bills will be spilt in half, both our names are on the title and mortgage.

I’ve thought about the whole, "I put in more than you, so I should get more of a return" scenario, but it’s just not worth it to me.

We built it together, saying I deserve more than her because I have more $ is kind of a douche move. She’s been really good about signing whatever I want to protect what I’m brining in.

At the end of the day, as long as I can walk away with what I brought in, I’m cool.

Would you have a clause put in place in case one of you wants to sell the house? That might not be a bad idea.

I can imagine you trust this girl, people change, and you should be protected in case she wants to cash out and "get to know herself" by backpacking through Thailand for a year, and teach English in Burma.

[rage2]

Originally posted by digi355
The girlfriend and I are building a house together. She’s putting in $X, I’m putting in $Y.

We want something written down that says, we put different amounts in, if living together doesn’t work, we’re entitled to our money back, plus half of whatever the house has appreciated. We're both assuming we'll need a lawyer to handle this?

I know someone had a thread about this, but I couldn’t find it.

Has anyone done this, any recommendations?

In an Adult Interdependent Relationship (AIR, Alberta legal term for common law), what you want is already the standard for property division, so there's nothing you need to do.

It's only 50-50 exact split if you purchased the property when you are married, as that falls under a different set of laws.

[benyl]

Originally posted by G

If you don't trust her with your thousands then maybe you should reevaluate your relationship.

[digi355]

Originally posted by rage2

In an Adult Interdependent Relationship (AIR, Alberta legal term for common law), what you want is already the standard for property division, so there's nothing you need to do.

It's only 50-50 exact split if you purchased the property when you are married, as that falls under a different set of laws.

Thanks,

I'll do some reading. Sounds like we don't need a Lawyer after all..

//famous last words..

[HiTempguy1]

Originally posted by Neil4Speed

I can imagine you trust this girl, people change, and you should be protected in case she wants to cash out and "get to know herself" by backpacking through Thailand for a year, and teach English in Burma.

Are you bitter about something? Would you like to talk about it? (if you are bitter about something that did happen like that, I apologize in advance).

Originally posted by benyl

I don't see how anybody can say these things about trust. I mean really, how many people have seen relationships (people in marriages) and their lives are hell? Poor decision? Sure, but I've seen it plenty of times where chicks change once things get serious/marriage.

Not everyone on Beyond (surprisingly enough) gets to date super models that put up with our expensive car habits and do everything we want while still having a mature, respectable relationship with us (not that this is my case :P )

[Godfuader]

Originally posted by digi355

I’ve thought about the whole, "I put in more than you, so I should get more of a return" scenario, but it’s just not worth it to me.

We built it together, saying I deserve more than her because I have more $ is kind of a douche move.

Haha, if you got to the point of breaking up and selling the place, do you think you will still be such a nice guy? You will probably want to turn into the biggest douche. Good on you for thinking ahead. But, if you are going the formal route, incorporate a proportioned ratio. When shit hits the fan...the gloves will come off on both teams.

[darthVWader]

http://en.wikipedia.org/wiki/Adult_i...hip_in_Alberta

http://www.common-law-separation-canada.com/alberta.htm

[Sugarphreak]

...

[Crymson]

That interesting, about the AIR.

So basically, if you've lived with the same roomate for 4 years of college, you're married and entitled to most of the benefits of marraige as "non conjugal platonic partners".

Haha.

[Nigel Mansell]

Who says the house value will likely appreciate? It will almost CERTAINLY depreciate given rising interest rates and reduced demand for housing.

What happens if you buy a house for 450k and two years later the market value is 350k? Who has to buy who out, and for how much? Who takes the financial hit?