Fianc! moving into home I own

nicechap

Mapeidde wrote: »

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.

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.

Maybe you could gift your house to your daughter?

Should be interesting to see how long after 18 she lets you stay there.

Mapeidde

We want to live together and hopefully get married. We’d like to make the house our home. He has offered to add another bathroom and do alterations to the kitchen etc. He wants to pay for this as I can’t afford to, being a single mum, now working part time for the last year. We are not intending breaking up, obviously but you don’t know what’s infront of you... we want to live like we are a couple and it’s ‘our’ home but want to protect each others money should anything cause us to break up. Hope this makes it a bit clearer!

LilElvis

Why don't you pay for the improvements on your house and let him use his savings as a deposit on a buy to let property? That way if you split you will both have a property you each own.

Mapeidde

Yes, I’ve thought about that. She is 13 just now so not long till she turns 18.... haha I like that!!! I’m laughing but even your own daughter could evict you lol ��

Grumpygit

Why not sell your property and buy something else with him


You could have it written up that you own x share and he owns x share and should you split up then you will get back your respective shares then split any equity 50/50 after fees?


That way you're both protected for any capital

BrassicWoman

Mapeidde wrote: »

We want to live together and hopefully get married. We’d like to make the house our home. He has offered to add another bathroom and do alterations to the kitchen etc. He wants to pay for this as I can’t afford to, being a single mum, now working part time for the last year. We are not intending breaking up, obviously but you don’t know what’s infront of you... we want to live like we are a couple and it’s ‘our’ home but want to protect each others money should anything cause us to break up. Hope this makes it a bit clearer!

To be clear


You can't do this, have him fund it, and still protect your home.


How would you repay him if you split up? You can't as you cannot afford to.


You are asking how to do the impossible.


So cool your jets on the extension for now.

[Deleted User]

Although I am a spinster, when my parents helped me with a home, the solicitor they took me to said I was welcome to go back to them anytime on issues like this. I think my own parent's wishes would be sell up, be grateful for the years of sole enjoyment and in that time I should have saved something myself (I don't really have much excuse) and pole the funds with picked person to avoid animosity. But like I say family solicitor was definitely keen to know.

I'm not sure how you look at it, I mean my parents help has meant being able to take jobs at minimum wage or take on a unaffordable commute; partner issue aside.

onwards&upwards

Mapeidde wrote: »

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.

Yes there is, and its to not get married.

I'm sorry its not what you want to hear.

Mapeidde

Deleted%20User wrote: »

I'm not sure how you look at it, I mean my parents help has meant being able to take jobs at minimum wage or take on a unaffordable commute; partner issue aside.

I have just returned to work, albeit it now part time, after a 10year break. This was to enjoy bringing up my daughter. Like yourself, my parents help me out a lot and gave me the opportunity to take a break. I now have a ‘perfect for me job’ which I really enjoy. Very flexible, but on minimum wage. You have lovely parents too, allowing you that

74jax

But I read your post differently. I read your post as your parents are not allowing you to marry and do what you want. I feel their gift comes with rules and ties.