Fianc! moving into home I own

Mapeidde

My parents bought me a house outright as a gift to give me life time security. I am very lucky. I want me fianc! to move in and share the home with me. The only problem I have is, should things not work out, I don’t want to be left with ‘half a home’. We have been together for 5 years and we love each other and do intend getting married and staying together forever. I have no doubts in our relationship but you have to be sensible and think of the consequences should anything go wrong with our relationship. My fianc! has money he wants to invest in it, like a possible extension, home improvements etc. Quite rightly, he is afraid he spends the money on it and things don’t work out, he could end up with nothing in return and I gain whatever improvements he has done.
So in brief...
This house is a gift given to me by my parents. They want me to have a life long home.
I have no doubts in our relationship but have to be sensible and think of the consequences.
My fianc! wants to do home improvements etc (spend money on it)
What can be done to protect the money he spends on it?
I’d never want him to live walking on eggshells worried that at anytime I could throw him out, or, he may want to end the relationship and split up. You have to think of these things because they can happen.
I’d really appreciate your thoughts. Put yourself in my shoes, I’m emphasising the home has no mortgage and given to ME so I’d never be homeless. This also includes when I get married.

gettingtheresometime

The only way you can safeguard your home is by you paying completely for home improvements.

Of course when you get married the situation will change

Comms69

You’re going to get married; so really not sure how much you can do; eventually you’ll both own it

hazyjo

Get him to pay half of all bills. Not mortgage. Not home improvements. Get him to save the rest. Put that towards a joint property eventually, or buy into yours and you save that money for if you ever have to buy him out, or it can be used for him to have money for rent or deposit should it not work out

After a few years of marriage, it would likely all be split 50/50 if no kids.

onwards&upwards

Marriage means sharing. Don’t want to share? Don’t get married.

Mapeidde

It definitely does but unfortunately when you are given such a gift from your parents who want my daughter and I to never be homeless, it’s really tricky. It’s not just a car or furniture or orniments, it’s £200k+ of their hard earned cash they chose to give me. If, if, if something was to happen in my relationship, I would loose it. No matter how much you love someone, some people can change after a break up and take you for all you have. Would you risk your house which your parents gave you with someone without some sort of protection? I am one of the most generous people and would give anyone my last £1 but this is different... I totally understand your comment and I’d share everything else from my savings to my egg cup.
A prenup is always an option I guess.

goodwithsaving

onwards&upwards wrote: »

Marriage means sharing. Don’t want to share? Don’t get married.

This is such a naive view in a world where many people are getting married older and have built significant assets prior, and I get really fed up of reading it on this forum.
There is nothing wrong with being astute and wanting to protect what is yours prior to marriage. I'd split what was earned during, no problem but certainly not what I'd earned myself beforehand.

Hence why I will not get married before pre-nuptial agreements become legally binding in the UK.
OP, what HazyJo said was a good suggestion just be aware that after a few years of marriage entitlement is 50/50 before any movement either way.

onwards&upwards

Mapeidde wrote: »

It definitely does but unfortunately when you are given such a gift from your parents who want my daughter and I to never be homeless, it’s really tricky. It’s not just a car or furniture or orniments, it’s £200k+ of their hard earned cash they chose to give me. If, if, if something was to happen in my relationship, I would loose it. No matter how much you love someone, some people can change after a break up and take you for all you have. Would you risk your house which your parents gave you with someone without some sort of protection? I am one of the most generous people and would give anyone my last £1 but this is different... I totally understand your comment and I’d share everything else from my savings to my egg cup.
A prenup is always an option I guess.

Or stay unmarried.

Do the benefits outweigh the risks or the other way around?

Mapeidde

Would you risk your house which your parents gave you with someone without some sort of protection?

I’m not asking for your opinion, I’m asking if anyone knows if there are any options to take to protect my house AND protect my fianc!’s investments he makes to the property.

Unfortunately no one can see into the future. It’s not really about comparing risks to benefits, I wouldn’t be posting on here otherwise. I’m very sensible, not selfish..... even if I chose not to marry, I’d still need this advise!

74jax

My husband brought to the marriage a valuable apartment and several 100ks from inheritance.

We decided on a prenup, which became void after 5yrs.5yrs is up now.

Maybe look at that. But after a length of time, 50/50 would be norm.

BrassicWoman

Don't have him invest in the property; have him set up a savings account in case it doesn't work out. He can pop what he was spending on rent before in it so he has a cushion.


Reassess on marriage.