Living Together While Keeping Money Unmarried

Separate accounts and simple documents can protect partners

April 16, 2008 RSS Feed Print

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Matthew Krise and Pasha Carroll have clear rules on handling finances.

Taxing. If one person pays more upfront than the other, Garrett says, couples can either agree to prorated ownership percentages or a schedule for the other person to catch up by paying the monthly mortgage bill. (Aside from the issue of fairness, Garrett adds, if one person provides the "gift" of a down payment, it may be subject to gift taxes.)

Differing monetary contributions underscore the need for a written agreement about what happens in the event of a dispute. "Sometimes people argue that they contributed more to a down payment. In some states, that may make a difference but not in others," says family law specialist Michele Lowenstein.

Parkinson's approach seems to have worked: When she and her boyfriend were ready to buy a bigger home six years ago, they made the offer and got engaged on the same day.

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looks like it is time to get some advice about my girlfriends purchase of a home that I will be doing a majority of the remodeling. I did a full remodel on the guest bath in the home she lives in...this was the "audition"...I passed. She is the financial backer of all the material and I am the "idea" and labor guy. This home is a second home purchased for investment purposes only. I will be living in it while we remodel. We do not believe in living together before marriage. I am paying the mortgage on one home and she is paying the mortgage on the other....this is being treated as rent. My credit score is poor-this is one reason for me not asking her to marry...the others are just nerves- I am 43 with no kids and have never been married. She has a great job and great security. This was mostly her idea and I am supporting it every way I possibly can. The house was a great opportunity and she was fortunate to get the house. The journey "I hope" will be a positive one. What are some of the ways we can establish some legal rights for each of us. We are both the giving type. I believe she would really like to be married. This is not always the answer to commitment. Just looking for some advice and direction. Thanks, Derek N.

Derek Jon of AR 9:15AM December 01, 2008

my boyfriend and i are separating, and we had an altercation. he still had keys to my house and car along with my cellular phone. the police officers that camt to the scene said that they could not make him give me my property back and it was a civil matter. i was tol that i would have to go to court to get my property back. we are not married, so therefore i thought he would have to return my property. what are the correct guidelines for a situation like this?

cassandri ware/burnett of IN 9:55AM September 17, 2008

If a couple have been living together for 13 years and have 2 children, she clearly owns the home, he does all of the fixing up, buying doors, windows, plumbing etc. They are real close to a break up, who would/how would the property be divided? Would he have to pay child support?

Joe Hess of SD 10:26AM August 25, 2008