ntrprnr 0 #1 April 30, 2010 Hey guys... Got a hypothetical for you. Would be curious if anyone's dealt with this, and how they've handled it. Let's say two people love each other, call them boy and girl. Boy and girl want to buy a place together. Boy is smart enough to know that there will be a legal contract in place, since boy has probably 95% of the money in the relationship. Girl is actually ok with that, she just wants protections that boy can't kick girl out, but rather, has to buy her out, which boy is ok with. Question though is thus: Since boy would be doing all of the buying, pretty much, should boy not even bother including girl on the mortgage, pre-approval/loan process, etc? Since boy has stellar credit and $$, and girl only has stellar credit but very little $$, what should they do? Should boy just do the whole thing himself (getting pre-approved, getting the loan in his name, the mortgage in his name, etc...) and deal with girl's bitching about it, or should he try and include her as much as possible, knowing that it might make it harder to get approved/get a low rate/etc? Thanks for any and all answers in this purely hypothetical scenario. :)_______________ "Why'd you track away at 7,000 feet?" "Even in freefall, I have commitment issues." Quote Share this post Link to post Share on other sites
grimmie 186 #2 April 30, 2010 Boy should just buy the house and let girl live there. Boy shouldn't add girl to deed until boy and girl get married. Boy and girl could end up in a huge mess some day without following this advice. Lock the thread. Quote Share this post Link to post Share on other sites
Amazon 7 #3 April 30, 2010 Quote Boy should just buy the house and let girl live there. Boy shouldn't add girl to deed until boy and girl get married. Boy and girl could end up in a huge mess some day without following this advice. Lock the thread. Also Boy and Girl should check on laws pertaining to common law. Quote Share this post Link to post Share on other sites
shropshire 0 #4 April 30, 2010 Agh ... but a lot of folks don't ever want to get married but are still committed to each other for life. There needs to be a legal mechanism to suit their needs. (.)Y(.) Chivalry is not dead; it only sleeps for want of work to do. - Jerome K Jerome Quote Share this post Link to post Share on other sites
airdvr 210 #5 April 30, 2010 Quote Agh ... but a lot of folks don't ever want to get married but are still committed to each other for life. There needs to be a legal mechanism to suit their needs. It's called legal tender. Boy has more than girl.Please don't dent the planet. Destinations by Roxanne Quote Share this post Link to post Share on other sites
shropshire 0 #6 April 30, 2010 Doesn't sound very 'tender' to me (.)Y(.) Chivalry is not dead; it only sleeps for want of work to do. - Jerome K Jerome Quote Share this post Link to post Share on other sites
Bolas 5 #7 April 30, 2010 Quote Boy is smart enough to know that there will be a legal contract in place, since boy has probably 95% of the money in the relationship. Girl is actually ok with that, she just wants protections that boy can't kick girl out, but rather, has to buy her out, which boy is ok with. Is she paying a portion of her 5% directly or indirectly via "services" towards that mortgage? If not IMO she has not contributed therefore no buyout clause is needed. She's also better off not getting into a legal contract and instead putting aside some $$$ in case she needs to move out later. Putting her name on the mortgage or deed is a bad idea for both parties.Stupidity if left untreated is self-correcting If ya can't be good, look good, if that fails, make 'em laugh. Quote Share this post Link to post Share on other sites
JohnDeere 0 #8 April 30, 2010 Quote Agh ... but a lot of folks don't ever want to get married but are still committed to each other for life. There needs to be a legal mechanism to suit their needs. Why's she worried about losing something that isnt hers if she isnt going anywhere?Peter there is no way in hell she would be on the deed with me! I didnt the same when I was ion my early 20's had a girl that we lived together before i built this house and we moved into my house. I didnt use that against her or bring it up except for in the very beginning of building the house. She helped run the house chose colors and all but she screwed me severly and i changed the locks on her ass and packed her stuff for her!Nothing opens like a Deere! You ignorant fool! Checks are for workers! Quote Share this post Link to post Share on other sites
ryoder 1,590 #9 April 30, 2010 OK, that was short on explanation. Let me elaborate: "There are only three things of value: younger women, faster airplanes, and bigger crocodiles" - Arthur Jones. Quote Share this post Link to post Share on other sites
Rstanley0312 1 #10 April 30, 2010 Quote Hey guys... Got a hypothetical for you. Would be curious if anyone's dealt with this, and how they've handled it. Let's say two people love each other, call them boy and girl. Boy and girl want to buy a place together. Boy is smart enough to know that there will be a legal contract in place, since boy has probably 95% of the money in the relationship. Girl is actually ok with that, she just wants protections that boy can't kick girl out, but rather, has to buy her out, which boy is ok with. Question though is thus: Since boy would be doing all of the buying, pretty much, should boy not even bother including girl on the mortgage, pre-approval/loan process, etc? Since boy has stellar credit and $$, and girl only has stellar credit but very little $$, what should they do? Should boy just do the whole thing himself (getting pre-approved, getting the loan in his name, the mortgage in his name, etc...) and deal with girl's bitching about it, or should he try and include her as much as possible, knowing that it might make it harder to get approved/get a low rate/etc? Thanks for any and all answers in this purely hypothetical scenario. :) Very little money means adding her to the mtg. increases debts over all with not much to offset them so really you probably qualify better on your own. If it were me I would never add her to the deed with no obligation to pay "on the mtg." that's just asking for it. Boy should keep girl off both. If they get married add her to the deed if you want or don't and get a good prenup Life is all about ass....either you're kicking it, kissing it, working it off, or trying to get a piece of it. Muff Brother #4382 Dudeist Skydiver #000 www.fundraiseadventure.com Quote Share this post Link to post Share on other sites
airtwardo 7 #11 April 30, 2010 Quote OK, that was short on explanation. Let me elaborate: Buy the house & rent a girl... ~ If you choke a Smurf, what color does it turn? ~ Quote Share this post Link to post Share on other sites
JohnMitchell 16 #12 April 30, 2010 Quote Doesn't sound very 'tender' to me The more tender you got, the more tender they get. Quote Share this post Link to post Share on other sites
JohnMitchell 16 #13 April 30, 2010 Quote Is she paying a portion of her 5% directly or indirectly via "services" towards that mortgage? If not IMO she has not contributed therefore no buyout clause is needed. Even if she's contributing $$ to the household, I don't think that gives her any legal share of the property. I think she is just paying "rent" for her half of the mattress and bathroom. To each their own, but I would advise my daughters to avoid paying any "rent" or "mortgage" in that kind of situation. Quote Share this post Link to post Share on other sites
cocheese 0 #14 April 30, 2010 Duplex. His side and her side. Charge her for utilities. Quote Share this post Link to post Share on other sites
d_squared431 0 #15 April 30, 2010 Boy should just buy the house if that is what he wants to do. Girl should not have any problem with boy not wanting her name on the house nor any choice in the house being bought. If girl does then girl isnt right for boy.TPM Sister#130ONTIG#1 I love vodka.I love vodka cause it rhymes with Tuaca~LisaH You having a clean thought is like billyvance having a clean post.iluvtofly Quote Share this post Link to post Share on other sites
ntrprnr 0 #16 April 30, 2010 QuoteQuote Is she paying a portion of her 5% directly or indirectly via "services" towards that mortgage? If not IMO she has not contributed therefore no buyout clause is needed. Even if she's contributing $$ to the household, I don't think that gives her any legal share of the property. I think she is just paying "rent" for her half of the mattress and bathroom. To each their own, but I would advise my daughters to avoid paying any "rent" or "mortgage" in that kind of situation. See, that's the thing. The boy loves this girl, and wants the girl to feel like she isn't just "Renting" from the boy. Boy also allows for her protection to make sure she can't get "booted" by boy from home. Boy also isn't stupid, and damn well knows a prenup would be in place if it got to that point, which it most likely will._______________ "Why'd you track away at 7,000 feet?" "Even in freefall, I have commitment issues." Quote Share this post Link to post Share on other sites
Rick 67 #17 April 30, 2010 Quote Quote OK, that was short on explanation. Let me elaborate: Buy the house & rent a girl... Best answer yet You can't be drunk all day if you don't start early! Quote Share this post Link to post Share on other sites
ryoder 1,590 #18 April 30, 2010 Quote Boy also allows for her protection to make sure she can't get "booted" by boy from home. So if things hit the rocks, instead of her just leaving, you have two people who hate each other living under the same roof, fighting over the house. You could just streamline the process by taking Sam Kinison's advice: Find a woman you hate and just give her half your stuff."There are only three things of value: younger women, faster airplanes, and bigger crocodiles" - Arthur Jones. Quote Share this post Link to post Share on other sites
ntrprnr 0 #19 April 30, 2010 Technically no - the contact would state that while boy couldn't kick girl out, boy could buy girl out of whatever she put into the house._______________ "Why'd you track away at 7,000 feet?" "Even in freefall, I have commitment issues." Quote Share this post Link to post Share on other sites
airdvr 210 #20 April 30, 2010 Quote Technically no - the contact would state that while boy couldn't kick girl out, boy could buy girl out of whatever she put into the house. Avoid the whole problem...get married, get divorced, buy her a different house.Please don't dent the planet. Destinations by Roxanne Quote Share this post Link to post Share on other sites
ryoder 1,590 #21 April 30, 2010 QuoteTechnically no - the contact would state that while boy couldn't kick girl out, boy could buy girl out of whatever she put into the house. Now it's making more sense to me."There are only three things of value: younger women, faster airplanes, and bigger crocodiles" - Arthur Jones. Quote Share this post Link to post Share on other sites
wmw999 2,541 #22 April 30, 2010 In such a scenario, I would write into the contract a periodic (annual? semi-annual?) review of the equity on each part, so that if such a split were to come, there would be a longer-term basis for estimating the price to be paid. Wendy P.There is nothing more dangerous than breaking a basic safety rule and getting away with it. It removes fear of the consequences and builds false confidence. (tbrown) Quote Share this post Link to post Share on other sites
skyrider 0 #23 April 30, 2010 If girl is doing the housework / shopping / paperwork /gardening ...fuck it, they are parteners...she desrve's to be treated as a partener....Money isn't the only way to "Earn" a house! BUT, iff Boy even has these thoughts going threw his head at this early stage....it must be the wrong Girl! Move on to greener pastures! Quote Share this post Link to post Share on other sites
piisfish 140 #24 April 30, 2010 Quote while boy couldn't kick girl, boy could buy girl. can girl kick boy ? is it Banesura ? scissors beat paper, paper beat rock, rock beat wingsuit - KarlM Quote Share this post Link to post Share on other sites
Bolas 5 #25 April 30, 2010 Quote If girl is doing the housework / shopping / paperwork /gardening ...fuck it, they are parteners...she desrve's to be treated as a partener....Money isn't the only way to "Earn" a house! Agree that money isn't the only way to "earn" a house but the value of those tasks or others would need to be determined and factored in which would then create a legal contract that either dictates for doing "x" jobs y% of the house equity is awarded or for every time "x" job is done $y is contributed to the home equity. This creates a tracking hassle and/or a potential legal nightmare for both as claims of breach of contract... Just not worth all the hassle. Quote BUT, iff Boy even has these thoughts going threw his head at this early stage....it must be the wrong Girl! Move on to greener pastures! This I don't agree with. Any attempt to logically proactively prepare for if things don't work out, means they aren't right for each other? It's basic disaster recovery/emergency procedures. If you plan for it and know you'll to do, both parties are better off. Chances are if you're ready for it, it's less likely to happen and if it does, it's less traumatic for both. I mean, I love my main canopy, but that doesn't mean I don't want a plan B. Stupidity if left untreated is self-correcting If ya can't be good, look good, if that fails, make 'em laugh. Quote Share this post Link to post Share on other sites
