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Real estate lawyer help buying a house with my bf.?

My boyfriend and I are buying a house together and want a simple legal document drawn up stating that if we do happen to split, if we sell we split the profits 50/50, if one of us wants to stay that person would give the other person half of what the house is worth and vice versa, we own the property 50/50. I am finding out that price to get this done are a bit high, is there any way my bf and I could have a legal drawn document drawn up without actually meeting with a lawyer like an online service that could do it, or something similar? Thanks would appreciate any help or advice.

Update:

I have trust funds, just because I have money doesn't mean I should just pay whatever.I think it silly to pay someone 1000 dollars when all I want to put in the document are three to four clauses in regards to ownership of the house and what would happen if we did split.I am not on the loan, but we are splitting the down payment, home appraisal, and attorney fees 50/50.I just wanted to know if there was another way of obtaining this document with or without a lawyer in a more cost efficient way

18 Answers

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  • lucy
    Lv 7
    3 years ago
    Favorite Answer

    Granted on the surface sounds simple with what you want, and almost everyone out here would agree to this of 50/50, that if things don’t work out, then it is spelled out in the contract.

    But you don’t hire a lawyer just for a simple contract that you want, but for the lawyer to (advise) you of any problems that you could encounter if the 2 of you both split up. Just like in a divorce, the once happy couple goes after each other for blood, since no longer in love. But if married, then at that point, the judge would rule on how the house would be sold, or one partner buying out the other spouse to stay there, since once again you are married, so in effect in a legal contract to begin when you get married.

    Here is something else to consider, if you split up, (who) leaves and who stays at the house? Since that time, both of you will be paying rent/mortgage by yourself, or double, since now not splitting the costs 50/50 by each paying separately.

    Now the biggest red flag I saw in your question is that your BF is on the loan, but you are (not), which creates more problems, since legally the BF is the owner of the house and could cost you for a good lawyer to go after him to split the house. Then there are other considerations that if you split up, and if (either) of you can’t afford it by yourselves, then could be stuck owing on the house vs splitting any equity or buying the other one out.

    Your concern is your trust fund which I am guessing is clouding your judgment, since my guess the BF will not pay 50/50 for a lawyer to do this and you will be paying the possible $1,000 for legal advice.

    If BF not willing to pay 50/50 for a lawyer, then you (alone) go to the lawyer for the contract and the lawyer will advise YOU the best advise to protect you, since you hired the lawyer and when the contract is done, then bring it home and have BF sign it and if he does not , then don’t buy this house.

    Source(s): was married to a lawyer (deceased) who had clients complain of why the costs was so high for a contract, but he as a lawyer must look for the "flaws' and advise you.
  • Linda
    Lv 6
    3 years ago

    NEVER, buy a house, with another person - unless you two are married.

  • Anonymous
    3 years ago

    Will you be on the deed? IF not you are a fool.

    What if you split, and statistically you will, and one or the other of you does not have a pot to pisss in much less enough to buy each other out or refi? That is the common one we see here about every other day.

    " I have trust funds, just because I have money doesn't mean I"

    You are so hilarious

    But just in case you do have a few dollars saved the way you protect those dollars is through legal advice when it is warranted.

  • 3 years ago

    The huge number of horror stories of people doing exactly what you are doing are a testament to how bad this idea is. Add to that your refusal to spend money on a contract between you and your bf and it amounts to a monumentally bad and childishly naive mistake.

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  • 3 years ago

    I would get married before you decide to buy a house TOGETHER. It's way more expensive and much harder to get out of even with a little piece of paper that says "we split 50/50" especially when you don't have a lawyer. This is just an all-around terrible decision and shouldn't be done. Even in a signed contract a judge may throw that out if it isn't clear enough, and it also depends on the laws of your state, you might as well just screw yourself from the get go. I would highly recommend not doing this in both a personal and professional opinion.

  • 3 years ago

    " have trust funds, just because I have money doesn't mean I should just pay whatever.I think it silly to pay someone" and you can try to get people online to work for free.

    So: trustafarian libtard. Trump much?

  • 3 years ago

    You could just call a 2nd real estate lawyer, explain it to them and ask what they'd charge. Whenever you get a lawyer involved its going to cost you - their fees are very high and if their fee isn't very high its probably because its not a very good lawyer.

    You could look for a cheaper online shop and they might do it for you - heck you could possibly just google the correct wording and write it yourself, but you get what you pay for. Do it yourself and it might have major mistakes, use a bigger/ cheaper shop and it still cold have mistakes and ommissions. Probably best just to contact a couple good lawyers in the area and use the one that you like the best (not necessarily the cheapest one). Don't be penny wise and pound foolish on this one.

  • 3 years ago

    You would need a lawyer to put things in the contract you don't think about. If it is simple and you are both comfortable going lawyer-less, it doesn't make the contract any less enforceful.

  • Eva
    Lv 7
    3 years ago

    Look on LegalZoom. Make sure the document will be legal in your state.

  • R P
    Lv 7
    3 years ago

    You could try Legalzoom.com

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