Protecting my Interest on Joint owership.Help!

[Bobby1]

Hi

I have just purchased a property with my girlfriend and we are due to move in in December.

I know I will need a will but since we are not married, Im assuming if I did not have one and I died, the life insurance would be paid out but would my half of the property go to my family or my girlfriend if not specified by me?

Also in the event of us breaking up, could we have a contract drawn up so ensure that noone can move someone into the property without the others consent? Also I woulsd want it to include an agreement as to the sale of the property in the event of a breakup.

If a sol was to draw up a contract, would this have a legal stance in a court of law?

Mant thanks
Bobby1

 

[Hi52]

It would go to your girlfriend by survivorship. Would be best to get a will sorted out and execute same at the time of purchase.

Get a Co-ownership agreement drawn up. Would cover various situations like if one person wanted to sell/if you break up etc etc. Pretty straightforward to draft, talk to your solicitor.

Hope that helps.

 

[liteweight]

Hi

I have just purchased a property with my girlfriend and we are due to move in in December.

I know I will need a will but since we are not married, Im assuming if I did not have one and I died, the life insurance would be paid out but would my half of the property go to my family or my girlfriend if not specified by me?

Did you purchase the property as tenants in common or as joint tenants. If you bought as joint tenants then the property automatically goes to the survivor. However if you bought as tenants in common, the usual rules of intestacy will apply.

Also in the event of us breaking up, could we have a contract drawn up so ensure that noone can move someone into the property without the others consent? Also I woulsd want it to include an agreement as to the sale of the property in the event of a breakup.

I'm not sure about needing a partner's consent to move someone into the property. Presumably, if you split up, the person who left would be bought out. I don't think this person could then dictate what went on in the property after that. A solicitor can certainly draw up a contract with regard to the sale of the property in the event of a break-up. In general it's best to see a solicitor who will answer all your questions. It's good to think of what you want before you go though.