[WSBARP] Non-married people buying house

[Mary L. Stone]

It would seem to me that a Tenants-in-Common Agreement would work just fine.

 

From: wsbarp-bounces at lists.wsbarppt.com [mailto:wsbarp-bounces at lists.wsbarppt.com] On Behalf Of david at vaughanlawonline.net
Sent: Friday, May 06, 2016 4:48 PM
To: WSBA Real Property Listserv
Subject: Re: [WSBARP] Non-married people buying house

 

It seems like what might be better for asset protection of the residence would be a limited partnership.

-------- Original Message --------
Subject: [WSBARP] Non-married people buying house
From: rdafg <a.gibbs at northwestcivillawgroup.org>
Date: Fri, May 06, 2016 2:53 pm
To: wsbarp at lists.wsbarppt.com

I got a new question from a PC: he and his girlfriend are planning to buy a house together and asked me to help them create "separate" property for them since he is contributing most of the initial capital. They will be living in the house as primary residence.

They intend on keeping records of monetary contributions to the financing for the house but want to shield each other's interests from claims of potential outside creditors.

 

I'm hoping for a little sage advice. Would a traditional separate property agreement serve to isolate their interests?

 

Thanks!

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