im buying a house with my boyfriend of 2 years 50-50 straighy down the middle. later on in life if anything happens to him do i lose his share to his 5 kids or what
2006-10-30 01:18:21 · 12 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
when you purchase a property, you usually get asked to make a will. If he does not state that he wants to leave it to his children. Then its all his next of kin which I presume is you. So you would be left with his share of the mortgage etc.
2006-10-30 01:22:18 · answer #1 · answered by murch 2 · 0⤊ 0⤋
Call Animal Control
2016-03-28 01:33:33 · answer #2 · answered by Anonymous · 0⤊ 0⤋
It depends on the type of ownership you both have on the property. If it is joint tenancy if he should pass away you would receive his interests in the property. Your real estate attorney will guide you to what type of ownership is best for your situation. If he wants his kids to inherit it then they can either buy you out of your share or you can buy them out of their share. Most likely you will have to refinance at that time to pay them or sell the house. The same situation if you two break up.
2006-10-30 07:05:53 · answer #3 · answered by tianaramal 4 · 0⤊ 0⤋
When you get your mortgage you specify if you're tennants in law or tennants in common or somthing. Can't remember the exact terminology but basically you chose the one that means that you are joint mortgage holders and the other would become sole owner should anything happen to either of you - unless otherwise stated in a will.
2006-10-30 01:22:14 · answer #4 · answered by Wafflebox 5 · 0⤊ 0⤋
Prabably, you must both make a will stating what you want to happen if something happens to either of you.
Isn't it fair that his kids should get something?
Anything you buy for the house keep a receipt somewhere safe, even if it's a small ornament. Then if anything happens you can prove what is yours.
2006-10-30 01:22:12 · answer #5 · answered by Jayne 2 (LMHJJ) 5 · 1⤊ 0⤋
Don't leave anything to chance, and draw up a will together so you force the discussion and know where you stand. If he's not willing to do this, you are leaving it in the hands of the state. Don't move forward if he won't do this.
2006-10-30 02:17:10 · answer #6 · answered by Anonymous · 0⤊ 0⤋
You should both make wills to make it clear as to who gets what. He may want to leave his half to the children which is fair enough, but make sure its all written up to avoid any hassle years down the line.
2006-10-30 01:27:38 · answer #7 · answered by Annie M 6 · 0⤊ 0⤋
If he has made a will, leaving his assets to them and you are not married, then i think they may be able to claim his half of the house. I am not entirely sure, if you and your bf arn`t sure, seek a solicitors advice, so you all know where you stand.
2006-10-30 01:23:44 · answer #8 · answered by Anonymous · 0⤊ 0⤋
Simple yes, unless he makes a will leaving it to you.I am married & was surprised that my husbands half or my half will go to the lads thats if no will is made & they can force you to sell or pay them the market value of his half.Also his brothers & sisters.
2006-11-02 21:50:03 · answer #9 · answered by Ollie 7 · 0⤊ 0⤋
As someone said - make a will and keep it updated through the years.
2006-10-30 01:34:07 · answer #10 · answered by costa 4 · 0⤊ 0⤋