joint ownership agreement

S

southsideguy

Guest
am about to purchase a house with my partner, deposit and legal fees are being financed by maself as my partner does not have any available funds for this. we have agreed between ourselves that if we break up in few years that the house will be mine once i can manage mortgage payments alone. i would like to get something down on paper with solicitors, does anyone have any ideas whats best way of doing this?
 
SO even if your partner pays half the mortgage with you they are entitled to none of the house? Not very fair imo.
 
none of the house no but but would be entitled to a cash payment yes. how much this cash payment is to be we have not decided yet, we were thinkin maybe 1/3 of whatever mortgage payments my partner made during the duration. a time limit is to be put in place on this agreement of 5years where as if after 5 years we do split everything goes 50/50. would i be liable for stamp duty if my partners name was taken from the mortgage and i continued to pay it myself? we are both first time buyers now so were not caught for stamp duty.
 
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