What is the name of your state (only U.S. law)?
Georgia.
My fiance' and I live in separate homes. He has provided most of my support for the last two years. I do not have a job. I've been going to college. We are both in our 50's. We have been looking for a house for over a year. I found one we both love. It needs a lot of work before the bank will loan $$ on it. The plan is that he pays cash for it; we do the work together to get it so that we can move in; we get married; we move into the house together; and he gets a mortgage so he can get his cash back out of it. He makes over 250k/yr. I may or may not get a part-time job after we get married. Also, it was his idea for me to stop going to school to move to the new house.
I know I will have no claim to the house when he buys it before we are married, but what about after we are married and he gets a mortgage on it? If things go bad later, am I just on the street? How do I protect myself?
Georgia.
My fiance' and I live in separate homes. He has provided most of my support for the last two years. I do not have a job. I've been going to college. We are both in our 50's. We have been looking for a house for over a year. I found one we both love. It needs a lot of work before the bank will loan $$ on it. The plan is that he pays cash for it; we do the work together to get it so that we can move in; we get married; we move into the house together; and he gets a mortgage so he can get his cash back out of it. He makes over 250k/yr. I may or may not get a part-time job after we get married. Also, it was his idea for me to stop going to school to move to the new house.
I know I will have no claim to the house when he buys it before we are married, but what about after we are married and he gets a mortgage on it? If things go bad later, am I just on the street? How do I protect myself?