We are buying a new house and will be exchanging contracts in the next few days. We are married couple with 2 small children, no previous marriages, other children or other oddities.
IIRC from the last time we bought, tennents in common is a no brainer as it allows us to setup trusts in our wills to pass on our half to our children whilst allowing the surviving partner to stay in the house. I also understand it can help minimize our assets for the purposes of means testing long term care costs in our old age (we are only in our 30's but time moves quickly)
We Dont have a will at present (really should get onto that) but presumably in the absence of one, the surviving partner would naturally get the other half by default?
Have I missed anything?
Can't they afford better beer?
😉
Can't they afford better beer?
pint and two straws. 🙂
McEwans for the WIN...
Balls. Walked into that one!
So.... Tenants in common??
Are you both putting the same amount in?
Don't want to sound negative, but if you do end up splitting up, you might want to consider exactly what you both brought to the deal now rather than when she asks for 50%
Yeah 50:50. We've been married donkeys years so everything we have achived is jointly accomplished.