[WSBARP] unmarried couple - property agreement?

[Gregory L. Ursich]

I agree with everything Dwight said.  Always, always have a co-tenancy agreement and record it.  I have done several of those.  Also, depending on the relationship, the parties can also choose to take title as Joint Tenants with Rights of Survivorship, but you still prepare and record a co-tenancy agreement.  -Greg

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Gregory L. Ursich
Shareholder
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From: wsbarp-bounces at lists.wsbarppt.com [mailto:wsbarp-bounces at lists.wsbarppt.com] On Behalf Of Dwight Bickel
Sent: Tuesday, May 12, 2020 12:00 PM
To: WSBA Real Property Listserv <wsbarp at lists.wsbarppt.com>
Subject: Re: [WSBARP] unmarried couple - property agreement?

 I wouldn't buy real property with anyone without a co-tenancy agreement recorded. No matter what is stated with respect to each other's expectations, there should be a portion of the agreement that is recorded to disclose limitations upon common law tenancy in common rights and obligations, so it is binding upon potential successors in title without actual notice of the agreement. Most important to limit the rights of one co-tenant in the event of a lien, or acquisition of title, by creditors of that co-tenant. I don't think the law would support a prohibition against liens, like you cannot contractually limit bankruptcy rights, but you can include a waiver of a right of partition and include mandatory obligations to sell to the other.

Dwight A. Bickel
Washington Title Professional
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http:/www.titleadvisor.com
206-484-1976


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