Should you make a house purchased before marriage joint or keep it as separate property? Does this answer change if it's a rental vs marital home

like
Posting as :
works at
You are currently posting as works at

This is purely based on facts and circumstances and we certainly do not have any of of the relevant facts to guide you in this decision. For what it’s worth, bought my first house with my then fiancée after we got engaged and titled as joint tenant with survivorship rights. We both split the down payment equally and contribute equally to the mortgage. This would have been a completely different scenario if we were dating for a short time with no time horizon for marriage.

like

From a relationship standpoint, I would buy a primary residence together. If I'm planning to spend my life with that person, I want to share that bug purchase, even if we're not putting in equal down payments.

For a rental, I would purchase on my own unless we were going in 50/50. I've worked really hard coming from a low income family, so I like the idea of having secured myself financially, independently.

From a legal standpoint, I'm not sure how that would work. Would have to consult a lawyer.

like

Check state / provincial law and consult a lawyer. In some states, it doesn’t matter what you want, it becomes joint property once you’re married.

Unless you sign a prenup

I have a serious girlfriend and just bought a house. She did not contribute to the down payment and the deed is entirely in my name. We split the mortgage and bills down the middle and mostly split the remodel stuff. When the time is right I will simply go to my lawyer and add her name to the deed. It may be slightly risky for her, but when I do add her name to the Deed she’ll get half that equity without having contributed to the down payment. Plus with our combined income we would not have qualified for the mortgage I got. 

From a legal standpoint a house purchased before marriage is your personal property and in the event of a divorce, still belongs to you alone. If you make it a joint property, then it becomes marital property and will be divided in the event of a divorce.

Related Posts

How do you know if you’re being too picky as a first time home buyer? Or is there no such thing as too picky? So discouraged by what I’m seeing 😕

likehelpful

Y do companies deduct the employer contribution of EPF from us ?! Aren't they supposed to contribute it (which is evident from the name) ? 🤷🏻‍♂️

likesmart

Apifiny - crypto startup in NYC

Anyone know anything about them?

like

I am from India and working in europe(belgium) full time, it's still work from home and no one knows about where you are working from.

If I work from india for a year or around 8months, what are the taxation complications,
Or they won't realise anything if I just file my taxes as normal as been in europe?

Any ideas thoughts/suggestions.

Got ADA for $28k when it was $1.30. It’s just dipping down close to $1.. 😭😭😭

likehelpful

I over-contributed to my Roth IRA by $6k, with earnings of ~$2k on that $6k since contribution in early 2021.

What’s the best strategy here? Is it possible to withdraw the $6k contribution and recharacterize just the earnings to a traditional IRA to avoid the 10% early withdrawal and income tax?

like

Hi all - figuring out loan options. Does anyone know if it’s better to choose:
A.) a longer term loan with a higher interest rate and overpay each month (0.5% higher interest, ~300 less in payment each month)
B.) a shorter term loan with a lower interest rate and meet the monthly payment exactly

Or how to calculate the better option?

like

I’d like some help evaluating the best deal. Airbnb potential house/ back house in Texas (furnished for $570k) Airbnb would break even (~3600)and most of not all of mortgage while I live in the back unit. Turnkey but not sure about appreciation or value. OR triplex for $625k that generates 4500/month, it’s in a questionable street in an amazing zip code.

like

Is anyone investing in mobile home parks or self-storage facilities?

like

Hi desi fam! How long did it take you to pay off your T-10 MBA loan with MBB/Tech gig?

I’m current a DI employee and I’m filling form 11 right now as a joining procedure for another firm and it asks two questions: 1. Whether earlier a member of employees’ provident fund scheme, 1952
2. Whether earlier a member of employee’s pension scheme, 1995
I know the answer to 1st is yes, but what about 2nd one?

like

Hi! I’m moving to LA from Chicago, base 90k - no debt. I live in a 1BD rn and have been browsing the market in LA to get an idea of rent. I’m mainly looking west of DTLA (ktown, la brea, pico rob, etc)it’s seeming like a 1BD may be out of reach. I’m not looking to pay more than $1800/mo. Any suggestions on neighborhoods I should consider? I’d like to be near grocery, restaurants, and would need parking. I enjoy being outdoors and would look to go on hikes/runs in my free time if that helps. TIA!

like

My wife and I have 2 children. We got married young and I have handled all expenses since marriage. I've even paid for some of her schooling and have encouraged her to continue finishing her Bachelors (she has difficulty choosing what to study and insinuated that when I mention the drawbacks of certain fields, it puts her off studying at all, she's also in student loan debt because her family took out loans in her name and never paid them off).

Long story short, now we have....

like

Not certain of peoples’ involvement/sophistication with the blockchain industry but have people heard of DFINITY, what are your thoughts on it, and are you investing in it?

Has anyone bought a NordicTrack? How difficult is it to put together?

like

Has anyone made a property purchase using sheriff sales? Can you shed any light on the process or share tips or resources?

like

I'm thinking of making a move from deals strategy manager to a corporate strategy manager role with 19,000 AED per month + housing allowance at Dubai.

Is it a good comp?

like

Does Deloitte have group income protection plan? Is it a part of package or an additional benefit to buy?

like

If I have a mortgage and a car loan, do I still need a credit card to build my score?
The problem is I delay my payments sometimes and the interest charge on that due that is crazy.
If I have money ready in savings, should I just use debit instead of credit?

like

More Posts

Any idea if accenture stopped giving joining bonus to Lateral hiring?

like

What is your rating of capgemini out of 5.

Compensation:
Wlb :
Learning opportunities :
Yearly hike % :
Onsite opportunities :
Your location :

like

Anyone able to access the Countdown to Accenture page?
When I try to open the page, I see “Page Not Found” message.

Post Photo
like

Hi Guys - what should be the salary for YOE-7.5, Qa automation profile as per.current market standards?

like

What is benefits you portal?

like

Planing to put the papers soon. When should I put them so I get the year end Accenture" class="linkified" target="_blank" rel="nofollow" >variable.Accenture Accenture India

like

Currently in the IT audit practice and I’m interested in the transaction advisory or due diligence roles at Alvarez and Marsal. Could someone give me advice?

likeuplifting

Hi! If anyone in this bowl works for Mars & Co. Can you please share some insight into what kind of case studies to expect in their interview panel round?
I have an interview coming up in the next couple of days and wanted to get some idea regarding the same. Thanks!

Hi All,

I am looking for a job change for growth and exposure. I have a total of 5.5 years of experience and managed multiple teams upto 30 members. Currently working as an assistant manager in the MIS team.

Current CTC : 11L

Any suggestions will be very helpful.

like

Hi, Looking for a job change, Role in Compliance and legal dept, am cs and llb with 5 years of experience, If any opening kindly refer

like

Affordable PG for Boys

Shared accomodation available in 3BHK
Location: Pimpri Area (Pune)
Landmark: Pimpri Station Rd

*DM for details*

Rent: Rs.3500 per bed/per month
Deposit: Rs.5000 per bed

- Fully Furnished
- Direct Owner
- Car & Bike parking available
- Standalone Building
- Electricity bill will be shared equally among all tenants
- Rs.1000 to be paid by tenant for notarized agreement
- Maid charges (for cleaning room) included in rent
- Max 3 people in 1 room

like

At what point do you consider yourself officially ghosted? No response to 2 emails? A week since the promised follow up?

like

I have uploaded zip file for the semester mark sheets in bgv instead of merging them into 1 pdf document...Will there be an issue?

like

How likely are you to get hired for a company when given a referral?

like

How much TC would a fresher ( Masters degree in ITM) with around a year of internship experience as Scrum Master get if they try for Scrum master or PM role? Currently I am certified in CSM, GCP and AWS. Have experience working in agile framework and have reporting experience on Tableau and PowerBI.

How much offer can i expect from IQVIA india for senior business analyst role? 8 YOe, skill business analyst, BE and MBa qualification, current ctc 12.36. Hr discussion pending.

Earlier during expected CTC i said 20lacs, however i feel i quoted less.

Best places to grab a drink outdoors on a sunny day?

like

Lease is up in December on 2018 Camry. Thinking about buying my next car. Really like the 4Runner, but at 50k new, 40k for 2018-19- I want to consider my options. Recommendations? X5? RX?

like

I have an H1b which I received in 2019 and was valid till august2021, due to covid I wasn't able to travel and then I switched to another firm last year in November. If I get visa transfer, will it provide me a validity back as I haven't used any on site time on that visa.

TIA

Hi…I am an Ex employee of Accenture..I need Employment verification letter for RFE For H1B visa.. Accenture has provided the letter, But in the letter the purpose Was written as “ for procuring Lawful Permanent Residency “…. Now I am not sure if I can use this letter as Employement verification letter

like

Additional Posts in Personal Investment Chatter

If I have a mortgage and a car loan, do I still need a credit card to build my score?
The problem is I delay my payments sometimes and the interest charge on that due that is crazy.
If I have money ready in savings, should I just use debit instead of credit?

like

15k in savings. Living in NYC, 2 years out of undergrad. No 401k setup yet or other investments... where do I start?

like

Realistically when are you planning to sell GME ?

like

Who has the "Investors Business Daily" courses?

like

I am within my first year of salaried pay and am looking for ways to begin investing. Any advice? For context, I only have money in the bank and as much as is allowed for 401k contributions - nothing else so far.

like

If I closed an account/cd with a bank, how do I access 1099?

My TC is 150K, I’m already maxing out my 401K, and am thinking of putting some money into I-bonds. Should I try to get the backdoor roth IRA? Anything else I can / should invest in? Currently have a lot of cash lying around.

like

Self-funding an EMBA(starting May 2021). Thinking of creating 529 fund for myself. Can I show this while filing taxes for 2020? Married filling jointly.

like

Best high yield savings account with no minimum or monthly fee?

like

SO and I are debating contributing to 401k this year since the rate of return is around -11% on our portfolios this year. I believe it would be better off saving the cash in my account.

I'm thinking of contributing again when/if the market picks up next year. Thoughts?

funnylike

What stocks to buy during a dip? Recently got into investing but always too risk averse to pull the trigger...some recs to start would be much appreciated!

like

How do you all save for a down payment? Graduated last year. No debt. 1 month from having my emergency fund. Not contributing to 401k now but will contribute 6% in a month.

like
likehelpful

I Bonds rate is 7.12% for the next 6 months does that mean I earn 7.12% every month? Just a little confused. So if I have 10,000 in does that mean I would earn 712 the first month?

like

I'm new here can I get likes

like

Has anyone recently purchased their leased vehicle?

First timer here and since I love it, and it’s way under miles seems like a win, win. Just curious if you reached out to the leasing company first, or if you brought your own financing to the table, and what rates I might be looking at.

Latest buyout quote is for $28k, and I have exceptional credit.

like