How do you divide property as an unmarried couple?

On behalf of Stange Law Firm, PC posted in Unmarried Couples on Tuesday, November 11, 2014.

For some couples, marriage is the heart of their relationship, cementing their love for one another. However, for many others, it is simply an expensive ceremony with too many strings attached. For others in some states, couples who would love to marry are not permitted to under law.

However, married or not, relationships do not always work out. But what happens when a long-term unmarried couple go their separate ways? How do they decide who gets what? Often at the center of property disputes between separating couples is the matter of who gets the house. This usually depends on whose name is on the deeds. If you and your partner bought a house together, but left it in the name of only one of you, the house is deemed to belong to that individual.

It is also important to figure out what would happen if one of you were to die. It is a dreadful thing to speculate about, but it is sensible to be prepared. If both names are on the deed for a house, it may be treated as shared property. However, if it was bought in the name of only one of you, there is a chance that the other will have no legal right to it if the worst happens. As is explained here, preparing a will is one way you can counter this problem.

If you have concerns about the division of your property, or how to protect your assets if your relationship breaks down, an attorney might be able to help you. He or she can ensure that you have everything in order and may be able to support you through the process of separation.

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