Partnership

There are different ways that two individuals who are not married can enter into a partnership to acquire a piece of real estate together. A live-in partnership has both parties living in the home and each party owns a percentage of the home. A shared equity partnership occurs when one buyer lives in the home and a second buyer does not live in the home but is an investor in the property. Generally, there is a bit more risk involved with entering into a partnership to purchase real estate than by purchasing the property by yourself. The partners must look at not just their own financial health but at the background and history of the other person. It's generally a good idea to have some method of dispute resolution put in writing in the initial mortgage contract on what to do in case the two partners disagree with each other.