PURCHASING PROPERTY AS AN UNMARRIED COUPLE
Are you an unmarried couple looking to buy a house together? If yes, then it’s wise to get a property partnership agreement (specifically suited to your needs) drawn up. The agreement should clearly state:
- Who pays for what i.e. purchase price, bond instalments, rates and taxes etc.
- What happens if you part ways.
- Procedures for resolving conflicts i.e. what happens if one of you wants to sell and the other doesn’t.
Ultimately it limits the potential for disagreements between you and your partner and protects your valuable asset.