Agent

Not married? Buy home as tenants in common

Arrangement wise when one partner contributes more money

The real estate event of the summer
Connect with other top producing agents at Connect SF, Aug 7-11, 2017

DEAR BENNY: My daughter and her boyfriend are thinking about buying a house and she is putting more of a down payment than he. Is this a good idea? --Doug DEAR DOUG: I don't see any real problem with this arrangement, so long as your daughter and her friend enter into a written agreement spelling out their rights and responsibilities. Specifically, the agreement should contain at least the following: (1) how the mortgage payments and other house expenses will be made; (2) what will happen if one party cannot make those payments; and (3) what if one party wants out of the house -- will they sell? Finally, your daughter should consult an attorney without her boyfriend so that she can be advised as to the correct way that title will be held. I would recommend a tenant-in-common arrangement, with your daughter owning a greater percentage of the house based on the amount of the down payment that each party will pay. DEAR BENNY: Once a contract has been signed by both the seller ...