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Updated over 1 year ago on . Most recent reply

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Eduardo Sagues
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Buying a property with a partner under personal names

Eduardo Sagues
Posted

Hi, My friend and I want to buy a property in partnership 50/50 (not under an LLC so we can use conventional loan). He wants to invest his 50% with his wife. My understanding is that if the three of us show on the title, technically the ownership is divided by 3 and instead of me having a 50%, I would have a 33 (although I may be wrong)

What title structure we should use so I'm 50%?

Thanks 

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Alecia Loveless
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Alecia Loveless
Replied

@Eduardo Sagues You may have to ask an attorney. It might be possible with a legally drawn up

Partnership Agreement. Not sure.

You should have a partnership agreement with an exit clause anyway. Trust me. I’ve been burned badly twice not having one.

  • Alecia Loveless
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