Legal Document
I am buying a house with my boyfriend. I am getting the loan in my name, but his name is on the title. I want to write a legal document stating that if we break up, he must sign the house over to me and I will pay him half of what we put in to in to it as far as home improvements. Do you know how to go about this without hiring a lawyer? Is there a website that may be helpful? Thanks
This may not be what you want to do but I would purchase the house in your name only. After the breakup you can give him money for the repairs if you want.
I'd keep it 100% in your name for time being, as YOU are on the note.
I've seen all too many of these cause tremendous problems when partner does NOT pay or contribute, but it's half his...so then whadya do?
IF he's willing to formally assume your debt, so he's as liable on the note as you, THEN deed him half...but not before.
Don't put it in anyone's name but yours. I am still working with a refi where the woman is trying to get her ex-boyfriend off title, and her husband on title. So far, it has taken 14 months. I have seen this woman cry (and she is not normally a crier) more times than not as we run into brick wall after brick wall trying to get this done. I know you are in love (at lease I hope you are), but love has nothing to do with business. The purchase of your house is a business transaction. Nothing more, nothing less. Putting his name on title is a BIG mistake.