girlfriend & I planning to buy house - what if we break up?

[johngilligan]

Hi,

My girlfriend and I are planning on buying a co-op in NYC. We've both tried to apply for mortgages separately, but due to our credit, we're unable to get a mortgage on our own. However, together, we have been approved...

I love her and plan to marry her, but my question is: What happens to the co-op we are planning to buy if we break up?

I would feel a lot more comfortable about going through with the process if we could have something down in writing (signed by both of us) as to what happens to the place in thee event of a breakup? What can we sign or who can we talk to so that we are able to head off a problem.

Thanks in advance...

John Gilligan

 

[I AM ALWAYS LIABLE]

Hi,

My girlfriend and I are planning on buying a co-op in NYC. We've both tried to apply for mortgages separately, but due to our credit, we're unable to get a mortgage on our own. However, together, we have been approved...

I love her and plan to marry her, but my question is: What happens to the co-op we are planning to buy if we break up?

I would feel a lot more comfortable about going through with the process if we could have something down in writing (signed by both of us) as to what happens to the place in thee event of a breakup? What can we sign or who can we talk to so that we are able to head off a problem.

Thanks in advance...

John Gilligan

My response:

Since New York is not a Common Law marriage State, Boyfriend / Girlfriend Real Estate questions are not "Family Law" issues (at least not until you're married). Therefore, please put your questions on the Real Estate law board.

Thanks.

IAAL