Should unmarried partners own a home jointly?

Question

My partner and I are considering buying a house together. We want the survivor to be protected if one of us dies, but we also want our ownership shares to be fair if we separate or sell. How should unmarried couples think about joint tenancy, tenancy in common, survivorship rights, and a separate co ownership agreement before taking title?

Soradin · Accepted Answer

Joint ownership can help with succession but should be evaluated for contributions, breakup rights, debts, taxes, and survivor control. For the issue described here, unmarried partners usually need written planning because marriage based protections may not apply. As part of the legal review, a coordinated plan may include wills, beneficiary designations, powers of attorney, health care documents, ownership agreements, and instructions for a shared home. A focused professional review can add real value if the situation involves relatives, real estate, tax issues, or business ownership.

Should unmarried partners own a home jointly?

Soradin

Need help with your situation?