: Consider taking out life insurance policies naming each other as beneficiaries. This ensures the surviving partner can cover the mortgage or buy out the deceased partner's heirs if necessary.
: Only one person is the legal owner. This can be risky for the non-titled partner, who may have no legal claim to the home despite contributing to payments. 3. Strategize Your Mortgage unmarried couples buying a house
: Draft a legally binding contract with a real estate attorney. It should detail how you will manage joint ownership and provide a clear exit strategy for a breakup. : Consider taking out life insurance policies naming
Applying for a mortgage jointly can increase your buying power, but it also carries shared risks. This can be risky for the non-titled partner,
: Both partners own 50%. If one dies, their share automatically goes to the survivor without going through probate.
How you hold the "title" determines legal ownership and what happens if one partner dies.