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Advice for drawing up contract
jessielicious
Posts: 304 Forumite
OH and I are about to buy a house together and want to draw up a contract which says who gets what percentage of the house value if we split up. I'm sure this is something a solicitor would charge a lot for but we could do fairly cheaply and easily ourselves. Can anyone advise me on how to do this, and what we would need (eg how many witnesses etc). As OH is putting down the whole deposit and paying a higher percentage of the mortgage, how would we work out what he gets if things go wrong? Would he get back his exact deposit, and then the same percentage of remaining value as he has been paying, based on the value of the house at the time? Or would his deposit increase/decrease according to the house value as well? Any recommendations?
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Comments
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It's simple. Your solicitor should ask you what sort of contract you want. If you opt for tenants in common, you can write into the contract exactly what the split is. Assuming you don't have any other complications, it shouldn't cost any extra.:grouphug: Things can only get better.0
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