[WSBARP] Non-married people buying house

[Wickert Law]

The TIC Agreement can also outline circumstances for a voluntary partition action between the co-owners. 

 

Very truly yours,

Maureen A. Wickert, Attorney at Law

 



14900 Interurban Avenue South, Suite 255

        Tukwila, WA 98168

       Phone: 206-931-6307

         Fax: 206-260-9005

      <http://www.wickertlawoffice.com/> www.wickertlawoffice.com

       wickertlaw at comcast.net

This electronic message contains information which may be confidential and/or legally privileged. The information is intended for the use of the individual or entity named above. If you are not the intended recipient, be aware that any disclosure, copying, distribution or use of the contents of this transmission is prohibited. If you have received this electronic transmission in error, please notify me by telephone or by email immediately.

 

From: wsbarp-bounces at lists.wsbarppt.com [mailto:wsbarp-bounces at lists.wsbarppt.com] On Behalf Of Mary L. Stone
Sent: Monday, May 09, 2016 05:25 PM
To: 'WSBA Real Property Listserv' <wsbarp at lists.wsbarppt.com>
Subject: Re: [WSBARP] Non-married people buying house

 

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>  [mailto:wsbarp-bounces at lists.wsbarppt.com] On Behalf Of david at vaughanlawonline.net <mailto: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 <mailto:a.gibbs at northwestcivillawgroup.org> >
Date: Fri, May 06, 2016 2:53 pm
To: wsbarp at lists.wsbarppt.com <mailto: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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