Declaration of Trust

kingstreet

steeeb wrote: »

Thanks very much for all your reponses.

I take on board everyones comments about 'maturity' and regarding her mother 'fighting her battles'. At the end of the day - buying this property is an alternative to renting. I see it as a buyers market and we'd not only be saving vs renting - but we'd also be in a secure home we (or one of us, whatever) owns, rather than then having to go through the buying process if for example a baby was on the way or whatever. Is it a way of getting onto the property ladder which we might not be able to in the future by renting etc..

I'll see how tonight goes anyway.

If you were renting, I'd recommend a tenancy in your sole name too and renting doesn't have half the potential problems buying might lead to.

rpc

xylophone wrote: »

If I were you, I would buy the property in my own name.

If I were your girlfriend, I would keep my job, live at home and wait to see whether you were committed enough to offer marriage and I committed enough to accept....

If I were either of them, I'd want to live together for a period first. That is best done in a situation with an easy 'out' i.e. renting or in a solely-owned property. If it fails to work out, then the relationship can be ended easily. If it doesn't work out with a joint mortgage in place then life gets much harder.

When I married, we lived in my house and had done for ~18 months. We then transferred her flat into joint names (for CGT), sold both and bought together after just over a year of marriage. With a wedding ring and a pregnant wife, a joint mortgage was rather an insignificant committment to make.

Fire_Fox

GDB2222 wrote: »

If you do answer back, you need to play the "why don't you trust me card". If possible, see if you can burst into tears before her.

:rotfl::rotfl::rotfl:

Dave_6

Was in a similar position last year, unmarried, no kids. Bought 1st place with girlfriend.
BUT, she was putting in more of the deposit so it was me effectively in your girlfriends position.

As it was me doing most of the ground work for the mortgage/purchase etc I proposed the declaration of trust and we agreed on the percentages each would get and what happens with any profit/negative equity. We both pay 50/50 on bills and mortgage so it’s just the deposit shares we needed protecting, I believe our deposit was more like 54% & 46%


I completely agree that you are right and should be entitled to protect the investment, it also helps avoid any on going massive arguments if you do split up because everything is already agreed in black and white.




BUT, I think your problem is that the 1% sounds so worthless.
I know she wont be contributing to the bills and mortgage but she will no doubt be helping with any improvements you make yourselves to the house, gardening, cleaning etc
Day to day upkeep and general house duties like cooking and cleaning.


You don’t have to but maybe you should consider a compromise based on that above, so that she feels a bit more valued in the agreement and with the effort she’ll put into things.
Maybe a 90% split for you, 10% for her.

You are still protecting yourself to a large extent aswell as showing you value & love her and are committed

Mojisola

Spend some time reading through this - https://www.advicenow.org.uk/living-together/

She will have no rights, living in your home, and could be asked to leave at any moment but then she's going to be living rent-free. If she continued to work and put away the equivalent of rent every week, she'd soon have some capital for her own security.

propertyman

Which is why when people say " a relationship is 50 50 , it is evident that they haven't really thought about it or understand it. Or are just dumb.

As GB2222 says, do you pay each other £100 for bunga bunga or if one has a "crisis" and not the other, is there a refund policy?

Relationships are the result of merging hopes fear dreams, and trust and understanding of each other, not fractions.

That leads to how you deal with these issues, not the other way around..

Kynthia

Meadows wrote: »

Where does Op say he has children?

OP has edited their post to make it clearer.

OP, being in love doesn't mean you can't make smart financial decisions. Don't be emotionally blackmailed into making an expensive mistake.

maxamilllion

I've been at the wrong side of this.

I had the mortgage with a boyfriend. I put the deposit down with no protection what so ever. We paid 50/50 generally towards the household and I stupidly and separately paid a lot of his debts off.

When we broke up (supposedly amicable) and I finally tracked him down it took 3 court dates, 2 years and 4K before I could get the house into my sole name. He denied I had paid deposit, any debts or even my half of the mortgage.

The point being nobody knows what the future holds and to protect yourself now is responsible. Commitment to a person cannot be measured in £. Vice versa if she is committed to you and trusted you she would be able to see or at least be reasonable regarding your financial decision. Her mum is probably only looking out for her but I would suggest that the conversation does to need to include her until a later date.


Good Luck

sniggings

I think you would be daft to put her name on the property at all, if she is acting like this now, what will she be like if you split up or want to sell the house :eek: if she is not paying towards the house then her name should not go on it and she knows it, she is clearly money grabbing as saying she only wants her name on it so it feels like her house :eek:, well it's not her house, I think you are doing right but not going far enough, you are only storing problems for in the future, you would think her packing in work and having a roof paid for over her head would be enough but no she gets her Mum to come round to bully you :rotfl: mate you really need to rethink this!

GDB2222

propertyman wrote: »

As GB2222 says, do you pay each other £100 for bunga bunga or if one has a "crisis" and not the other, is there a refund policy?

Apparently, my comment was a bit too frank, because it has vanished into hyperspace.