Buying a Home with a Partner or Friend? Here’s What Unmarried Buyers Need to Know

Buying real estate with someone you’re not married to—whether it’s a romantic partner, friend, sibling, or business partner—is increasingly common. But without proper planning, these co-buying arrangements can lead to serious legal and financial disputes. Here’s what every unmarried buyer in Connecticut or New York needs to know before signing on the dotted line.

1. Choose the Right Form of Ownership

Unmarried buyers typically choose between:

• Joint Tenancy with Right of Survivorship (JTWROS): If one owner passes away, the other automatically inherits their share.
• Tenancy in Common (TIC): Each owner holds a defined share, which can be passed to heirs or sold independently.

Choosing the wrong form of ownership could impact inheritance rights, taxation, and control over the property.

2. Draft a Co-Ownership Agreement

A real estate attorney can draft a co-ownership agreement to outline:

• How the purchase price and expenses are split
• Who handles maintenance and taxes
• What happens if one party wants to sell, move out, or passes away
• Dispute resolution terms

Think of it as a “business plan” for your property—critical for avoiding misunderstandings later.

3. Understand the Risks Without Legal Protections

If you’re not legally married, you won’t have the same rights as spouses under property or family law. For example:

• You may not automatically inherit your partner’s share
• If you break up, there’s no divorce process to divide assets fairly
• Credit issues or bankruptcy of one party could affect the whole property

Legal planning now prevents costly litigation later.

4. Hire a Real Estate Lawyer Early

From title issues to contract terms, a real estate attorney ensures you’re protected throughout the purchase process. They’ll also help draft a custom co-ownership agreement tailored to your financial and relationship dynamics.

Buying a home together can be an exciting step—but it also comes with legal risks. At Glouzgal Law, we help unmarried co-buyers in CT and NY protect their investments and their relationships.

Contact us today for a consultation on how to co-own real estate the smart way – 203-885-0500

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