[quote=CA renter]This is especially important to consider when we are still in a potentially deflationary environment. What if the relationship doesn’t work, and the house is 30% underwater?
Like you, BG, I’ve also seen this end in ugly, ugly ways. If one is not committed enough to marry a partner, then one should think long and hard before buying a house (or having kids!) with that person.[/quote]
CAR, not only have I seen the “underwater” issue between these “tenants in common” where one may need to accept a position in another locale in a down market (due to UI running out), I have actually seen one party “die unexpectedly” and the other party then owning their “longtime home” as “tenants-in-common” with their “tenant-in-common’s” often recalcitrant, “next-of-kin,” due to their TIC not having a will leaving their ownership portion to them.
These are just TWO examples depicting the MINEFIELD that is taking title as “unrelated tenants-in-common.” :={
And if one is going to make a will leaving their TIC portion of real property to their “significant other” TIC, then WHY wouldn’t they MARRY them?? THAT is the $64M question here.
