Buying a Home With a Boyfriend or Girlfriend in Florida? Don’t Ignore the Deed
Buying a house together is exciting. You’re talking about neighborhoods, bedrooms, budgets, maybe even where the furniture will go.
But there’s one conversation that unmarried couples really need to have before closing: whose name is actually going to be on the property?
In the video above, I share a real situation involving a buyer who wanted to put an investment property solely in his girlfriend’s name because she had better credit. He trusted her completely and felt confident in their relationship.
I asked him more than once: Are you sure?
Unfortunately, a few years later, he understood exactly why I had been concerned.
Better Credit Can Solve One Problem — and Create Another
It’s easy to understand the thinking.
One person has better credit, so putting the financing in that person’s name may seem like the simplest way to move forward. But the mortgage and the ownership of the property are two very important issues to discuss separately.
If the deed places the property solely in your partner’s name, you need to understand what that means for your ownership position.
You may be contributing money toward the down payment, mortgage, repairs, renovations, taxes, or other expenses. You may even think of the property as “ours.”
But what you believe you own and what the legal documents say can be two very different things.
That’s why I always encourage buyers to slow down and ask questions before making a decision based solely on credit or financing.
What Happens If the Relationship Ends?
Nobody wants to buy a house while planning a breakup.
I get it.
But purchasing real estate is a major financial transaction. Protecting yourself isn’t about expecting your relationship to fail. It’s about making sure everyone understands the arrangement from the beginning.
In the situation I discussed in the video, the property was placed in the girlfriend’s name. Several years later, the relationship ended, and she sold the property.
That left my former client in an extremely difficult position because the documents did not reflect the ownership arrangement he believed they had.
Florida property rights can become complicated, and the deed is an important part of establishing ownership. The Florida Bar has also emphasized the importance of having legal documentation showing ownership of a home. The Florida Bar
That’s why this is an area where a conversation with a Florida real estate attorney can be incredibly important.
There Is a Better Way to Handle It
I’ve also worked with another unmarried couple who purchased a home together but chose to put it in one partner’s name.
The difference?
They planned ahead.
They worked with an attorney and created legal documents that clearly addressed their arrangement, including questions such as:
Who has an ownership interest in the property?
Who is responsible for certain expenses and repairs?
What happens if the property is sold?
How will proceeds be divided?
What happens if the relationship ends?
Those aren’t particularly romantic conversations.
They are, however, very practical ones.
A properly prepared agreement can help both people understand exactly what they are agreeing to instead of relying on assumptions or conversations that happened years earlier.
Buying a Home with a Boyfriend or Girlfriend Is Also a Business Decision
Whether you’re buying your first home in Gainesville, purchasing an investment property in Alachua County, or looking elsewhere in North Central Florida, it helps to remember that real estate is both personal and financial.
You can absolutely trust the person you’re buying with and still protect yourself.
In fact, getting everything in writing can protect both people.
Before an unmarried couple purchases property, I recommend asking a few questions early in the process:
What names will be on the mortgage? What names will be on the deed? Who is contributing what? What happens if someone wants to sell? And do we need an attorney to document our agreement?
Your Realtor® can help you understand the real estate transaction and identify questions you should be asking. When those questions cross into legal rights and ownership, that’s when I’m going to tell you to speak with an attorney.
Because sometimes my job isn’t to tell you what you want to hear.
It’s to make sure you understand what you need to know before you sign.
That’s the RealTea.
Have questions about buying, selling, or investing in real estate? I'd be happy to help. Contact me to discuss your goals and explore your options.
Ciara Hudleston Munro, Realtor®
Bosshardt Realty Services
321-537-1670
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