Are you purchasing a home, but haven’t tied the knot?
Getting married is a major commitment, but so is buying a home. When purchasing a home as an unmarried couple that intends to pay off the mortgage together, each person bears the risk of his/her partner failing to keep up with payments. Even worse, the couple could break up, and be stuck owning a home together. To mitigate these possibilities, the attorneys at Mattleman, Weinroth & Miller, P.C. have developed a Partnership Agreement that establishes each person’s obligations and the terms in the event of any adversity. The Partnership Agreement is the tool every unmarried couple should have to provide certainty, just in case of the unexpected.
Do you already own a home, but haven’t tied the knot?
Protecting a home that was acquired prior to marriage is a concern every person should have before saying “I do.” This is because acquiring a home is typically the largest purchase of an individual’s life. One of the best ways to protect a home purchased prior to marriage is to enter into a premarital agreement. A premarital agreement will dictate how assets, such as the home, will be divided in the event of a divorce. This is a very effective tool in protecting a person’s premarital assets, and it should be something that anyone with ownership in a home should consider prior to tying the knot. If you or someone you know is in this situation, consider contacting the attorneys at MWM to discuss the available options at (856) 429-5507.
Are you married and own a home?
Unfortunately, it is estimated that 50% of marriages end up in divorce in the United States. This means many couples find themselves facing issues in determining an equitable division of their home. Courts consider various criteria in determining what is equitable, but equitable does not always mean fair. Whether the home is sold as a result of the divorce, or one spouse retains sole ownership of the home, the results can be regrettable and cause a major financial impact. The attorneys at Mattleman, Weinroth & Miller, P.C. can help you avoid the pitfalls of an equitable division during a divorce proceeding. Call us at (856) 429-5507.