Property News · January 26, 2017

Do we need a deed of trust to reflect our shares in our house purchase?


As an unmarried couple we want to protect our monies, but my partner is worried that if I pay for repairs her share will fall Q Two years ago my partner and I bought our first house together. Although the deposit we gathered was more mine than hers, we signed a deed of trust protecting our respective monies. It has since come to light that I am due to inherit some money. As there is still much to be done to the house, I had planned to spend around £20,000 putting in a new bathroom, double glazing and front door – all necessary improvements we could not otherwise afford. My partner, however, has raised concerns that by putting more money into the property, I would subsequently be taking more out (and therefore depleting her share) were we to sell it and go our separate ways. What is the norm for unmarried people in this situation? She has suggested that she pay for half of the repairs, though at present she does not have the money to do so. Should I otherwise just pay for the cost myself and take the hit? Any advice would be most welcome. KM Continue reading…

Source : theguardian.com
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