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Hello, I have a question I am building a house and will be paying cash (around $200,000). Can I build this on property that is in my fiancé name or does it have to be in my name? We will not be married for several years but plan to build the house in a few months. Thanks in advance for your advice :)
You are aware if you build it on his land and you break up... its HIS house?
You might want to reconsider until your name is on the deed of the land as well, AND you are marrried.
Lots can go wrong and all of those will increase your security in your interests.
I agree with smoothy - you will have to draw building permits in his name, and it will go on the tax roles in his name. This would be one very nice gift you are making him. My suggestion is see a lawyer about how to title the property and/or draw up a contract so that both your interests are protected. If you were married there would be protections for your financial interests in case of divorce, but there are no such protections for unmarried people - what happens in case of a split up must be spelled out in a contract.
Thank you so much :) he is willing to deed the property over to me prior to our marriage because this will be my kids inheritance and we will have a prenup prior to our marriage.
As others have suggested, you would be very foolish to invest this kind of cash without the guidance of an attorney.
Wait until his actions have matched his words before you start any investment in his property.Quote:
Originally Posted by BETHAUBRY
I agree, I would not start any building, unless the property in my name. There should also be a specific legal agreement showing he is giving you the land and he will make no claim to it. ** sorry but also foolish on his part, if you did break up.
Prenup only good, if you marry, so not valid before marriage. And be aware some prenup have been broken in court, after a number of years.
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