How do I work out my percentage share of our property?

HappyMJ

deaston wrote: »

That's what I wondered, but it seems unduly harsh. If we were to split up, they would leave with absolutely nothing! Unless the house went up by £183k, I suppose.

Ultimately, I want to protect the £380,000-odd I've put forward to allow us to buy the property, so I guess that's the most important thing to make clear.

I'm sure you can be fair about it.

My partner technically has nothing and is seriously considering a DRO to write off debts incurred before we got together. If she really wanted to leave the relationship I would ensure she had enough money to pay for the deposit and 6 months rent up front on a small flat if she needed it which she would. If I wanted to leave the relationship I'd pay 6 months rent up front for her on the flat we have together and I'd move out. It's all about being fair. You wouldn't leave someone on the street with nothing.

Johnnytwostep

....and of course the OP should not forget to put labels on anything now, and in the future that they bought or that their partner bought. Probably in indelible ink on the bottom of each item so that they are not ripped off by the person they potentially love, or are at least a bit fond of.

LittleMax

giddypenguin wrote: »

Although this sounds simple, if you sell the house for less than you bought it for it won't be fair, as your investment will be 'protected' at the cost of your partners share.

It doesn't matter what you or anyone else thinks is fair - it is what the couple agree, they decide what they want to happen.

deaston

Johnnytwostep wrote: »

....and of course the OP should not forget to put labels on anything now, and in the future that they bought or that their partner bought. Probably in indelible ink on the bottom of each item so that they are not ripped off by the person they potentially love, or are at least a bit fond of.

Well, she's got my name tattooed on her ankle, so I've made a good start.

Kynthia

If a couple isn't ready to commit to marriage and won't have the legal protection of marriage then surely it's a sign of good planning and respect to discuss the situation, come to an agreement and formalise it? Being financially sensible has nothing to do with whether you love each other or not, and having a healthy enough relationship to be able to discuss money is a good sign.

The mentality of 'you love each other so you shouldn't think about financially protecting yourself or your partner' leaves people vulnerable. For example many women move into a man's house, pay towards the costs, then have children and they're the one that gives up work to look after them. Because she loves and trusts him she doesn't insist her name is put on the deeds, yet when they split up she has to move out and gets nothing. She can try and sue for the time she was contributing but she'd need evidence that her contributions went towards the mortgage and the years she looked after the children don't count when you're unmarried. Just one example of why couples should think about these things when not married, and want to protect each other.

Wills and life insurance aren't 'romantic' but I think they're important for couples to consider too for each others protection.

OP you and your partner need to agree how you want to split the property ownership, mortgage repayments, significant bills or enhancements to the property. It's really best to have agreed it before you start looking at properties incase an agreement isn't so quick to come to, and try to put yourself in the other person's shoes to see each proposal from their side too.