Buying a house with a partner

• 

  nocure on 12/11/2015 - 23:01

  +2

  Once you're married everything is 50/50.

  • 

    dr on 13/11/2015 - 00:48

    The ownership question only matters in the case of the divorce or breakup of the de-facto relationship. And in those cases it is completely incorrect to assume 50:50 ownership, it does not have to be equal percentage even after 5 years of marriage, it really depends on personal circumstances, previous savings, gifts from family, earnings, other non monetary contributions to the household, future earning capacity, health, care after children etc…
    If you really want to learn more about that pay an hour or two long consultation with solicitor who specializes in family law (a.k.a divorce lawyers), it will cont you about $250-400 for initial consultation and will save you heaps of money and headaches if it ever reaches that point of divorcing your better half.

    • 

      nocure on 13/11/2015 - 06:51

      -1

      And in those cases it is completely incorrect to assume 50:50 ownership,

      I'm not assuming…I'm living it.

      • 

        dr on 13/11/2015 - 08:07

        -1

        and I lived it until I got divorced, and reality of the divorce proceedings was quite different compared to presumed 50:50 split.

        Let me just put it this way, if one partner puts 20% of the property value as the deposit based on his/hers previous savings or gift from the family, that deposit will have different treatment after 2 years of marriage vs 20 years of marriage.

        For full breakdown author of the question should talk to family law specialist, that would be few hundred dollars well spent.

• 

  hoxygt on 12/11/2015 - 23:32

  +3

  Unless you do a pre-nup.

  Basically being together for 2 years rates as being de-facto (could have changed) so its 50:50 in that circumstance too.

  • 

    CLoSeR on 13/11/2015 - 09:55

    Think you'll find it's 6 months.

• 

  Findo on 12/11/2015 - 23:53

  +13

  A man has $100 and his girlfriend has $100. Now the girlfriend has $200.

• 

  [Deactivated] on 13/11/2015 - 00:00

  So do both our names go on the home if only one of us is working full time?

  • 

    SmiTTy on 13/11/2015 - 00:18

    +2

    Yes.
    Title of house is one thing. Name on loans is another.
    But you can still have both your name on the loan even if you don't earn any (or very much) $

• 

  BigTed on 13/11/2015 - 01:58

  +3

  You and your partner can decide how you want to register your interests on the title almost any way you want.
  If you choose to register as joint owners then you will each jointly hold all of the property.
  If you choose to register as tenants in common then you can determine in what shares.
  As for the loan documents, generally if you are both on the title then you will both be on the loan. While you can theoretically separate your liability under the loan the reality is that you will almost certainly be joint principal borrowers and both be liable for the full loan amount.
  However, your equitable interests in the event of divorce may well differ depending on your contributions.
  Good luck.

• 

  shortgum on 13/11/2015 - 04:37

  Sounded like a business marriage.

  • 

    firedragon on 13/11/2015 - 07:41

    +4

    I think she's asking a fair question.

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  DarkOz on 13/11/2015 - 10:36

  It'll be 50-50 if you don't have prior-agreements. If you don't want it to be 50-50 then you should speak to a lawyer and draft something up accordingly. Then you record down every contribution to the house. One of my bosses did that and I found it weird before I got married. Now I understand why.

• 

  BensonP on 16/11/2015 - 18:06

  My partner and I are in a similar situation.

  Been together 4 years, lived together for 2. Unmarried.

  As she was studying and I was working, I paid the 20% home loan deposit. She's always paid half of the repayment each fortnight and any other bills since moving in.