united-states mortgage
How to document mortgage payment arrangement with my partner?
<p>My partner and I recently purchased a house. We split all expenses related to that purchase (down payment, homeowner's insurance, inspection costs, etc) exactly 50/50. Both of our names are on the mortgage, however since I handled the application, paperwork, communication, etc, my partner transferred her portion of these payments to me, and I paid them out of my accounts. </p>

<p>Going forward, we will also be splitting the mortgage payment exactly 50/50.</p>

<p>We have been together for years and plan to marry this summer, however it's always possible that one of us gets hit on the head, becomes a vindictive jerk, and tries to take the house away from the other. </p>

<p><strong>What can we do now to clearly and definitively document the fact that we have split the mortgage 50/50, so that in case we eventually separate, it's clear that we should each receive an equal portion from the sale of the house?</strong></p>

<p>The 50/50 split will be relevant but probably not a deciding factor if a divorce court ends up dividing your assets.</p>

<p>If you want the division of your property to be subject to an agreement you made before your nuptials, you'll need a proper prenuptial agreement, which will almost certainly require that each of you hire an attorney to negotiate it. Assuming your assets are not extensive, this can probably be done relatively cheaply.</p>

<p>You can, and should, give written receipts for money paid from one of you to the other, showing the date, amount and purpose. Also make such payments by check, so that there is a legal paper trail. You can and should  draw up and sign an agreement between you to purchase this house together, specifying that you intend to own it min equal shares, and that you intend to split costs equally. (If you intend some other arrangement, specify that.)  You should each have a copy., It might be a good idea to notarize your signatures.</p>

<p>You could have a lawyer draw up such an agreement in the form favored by your state. But this is a very standard sort of agreement, and you might be able to find a model ,online, or a software package that will create one to your specific needs, or even a printed form for one. I would sugest that any such form be one for your specific state.</p>
