Unmarried Couples and Property

Regardless of a couple’s time spent in a relationship or living together, if they are not married when the relationship ends the law views the two people as individuals with no rights or responsibilities. There are some steps that unmarried couples can take to keep a claim in their property should the relationship end or a partner die.

Buying Property Together

Before entering into a purchase agreement jointly for a house or other substantial asset, sit down with your partner and decide how you will own the property. Taking the time to do this will protect your rights if your partner dies or the relationship ends. You will need to decide whether you will own the property as joint tenants or tenants-in-common.

Joint Tenants

Joint tenancy is a form of ownership in which ownership is shared equally. Everyone in a joint tenancy owns an equal interest in the jointly-owned property. In the event that two or more person own property as joint tenants, and one of the owners dies, the remaining owner automatically takes over the share of the deceased person. This is referred to as the right of survivorship.

Buying Property Together

Before entering into a purchase agreement jointly for a house or other substantial asset, sit down with your partner and decide how you will own the property. Taking the time to do this will protect your rights if your partner dies or the relationship ends. You will need to decide whether you will own the property as joint tenants or tenants-in-common.

Joint Tenants

Joint tenancy is a form of ownership in which ownership is shared equally. Everyone in a joint tenancy owns an equal interest in the jointly-owned property. In the event that two or more person own property as joint tenants, and one of the owners dies, the remaining owner automatically takes over the share of the deceased person. This is referred to as the right of survivorship.

Tenants-In-Common

Holding property as tenants-in-common establishes a distinct share in the property for each tenant. The percentage of share is determined by the tenants in the agreement. One way to go about this is to have the property share reflect the percentage of the purchase price that each tenant contributed. There is no right of survivorship under a tenants-in-common agreement.

A San Jose Lawyer Can Help

If you are a member of an unmarried couple, you should consider taking steps to ensure the security of your shared property and assets. Contact San Jose family lawyer Daniel Jensen at 408-296-4100 to speak with a knowledgeable attorney who cares.