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    abrowning61's Avatar
    abrowning61 Posts: 1, Reputation: 1
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    #1

    Apr 10, 2012, 11:34 AM
    My domestic partner wants me to add her to the deed of my home.
    My domestic partner wants to make improvements to my home that I own. She wants me to add her to the deed before she does so. How will this affect me and my rights to my house should we split up?
    JudyKayTee's Avatar
    JudyKayTee Posts: 46,503, Reputation: 4600
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    #2

    Apr 10, 2012, 11:51 AM
    Of course. If she's on the deed she's a part owner.
    ebaines's Avatar
    ebaines Posts: 12,131, Reputation: 1307
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    #3

    Apr 10, 2012, 02:12 PM
    Who provided the down payment, and who's paying the mortgage? If you - then consider that as you build equity in the property ultimately you will have to split it with your partner. I suggest that if she wants to be on the deed as joint owner then she should first reimburse you for 1/2 the equity you currently have in the house (1/2 your down payment plus half the princial ypu've accumulated through mortgage payments to date). Then you can split future mortgage payments, taxes, insurance, maintenance, repairs, and capital improvement costs going forward.
    JudyKayTee's Avatar
    JudyKayTee Posts: 46,503, Reputation: 4600
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    #4

    Apr 11, 2012, 05:42 AM
    - and in NY you will owe her for anything she pays for in the house that increases its value at the time of sale IF you split up.

    Why not sign a loan agreement with her, use the money for the house. Have it written so that there are no payments unless/until you no longer live together. You stay together the repairs are made with the loan and you don't owe her anything. You split up, you owe her for the loan.

    Attorneys in my area recommend these agreements when it's a "live in" situation.
    mmresd's Avatar
    mmresd Posts: 2,002, Reputation: 553
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    #5

    Jun 20, 2012, 06:19 PM
    She will be part owner of the home, but won't be on the note, I wouldn't do that unless I was sure this partner is going to be there forever. Actually, I wouldn't do it at all. :)
    JudyKayTee's Avatar
    JudyKayTee Posts: 46,503, Reputation: 4600
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    #6

    Jun 20, 2012, 06:20 PM
    Quote Originally Posted by mmresd View Post
    She will be part owner of the home, but won't be on the note, I wouldn't do that unless I was sure this partner is going to be there forever. Actually, I wouldn't do it at all. :)

    It's actually illegal to change the title IF there's a loan against the property - OP would have to look at the mortgage papers.
    mmresd's Avatar
    mmresd Posts: 2,002, Reputation: 553
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    #7

    Jun 20, 2012, 06:40 PM
    Quote Originally Posted by JudyKayTee View Post
    It's actually illegal to change the title IF there's a loan against the property - OP would have to look at the mortgage papers.
    If it was, don't do it!! Judy's recommendation of signed agreement sounds MUCH better, and it serves the same purpose.
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