Unmarried couples purchasing property together do not enjoy the same legal protections as married couples. It is therefore crucial to take legal precautions to avoid unexpected difficulties. Bausparkasse Schwäbisch Hall points this out. It recommends dealing with three main issues in particular: entry in the land register, loan agreements and arrangements in the event of separation or death.
This should ensure that both partners are entered in the land register. This is the only way that both partners have legal claims to the property. The ownership structure can also be entered in the land register on a pro rata basis, for example if one of the partners has more equity than the other. In addition, both partners should sign the loan agreement in order to be jointly responsible for repayment. This reduces the default risk for the bank and potentially creates better interest conditions. However, both partners are then also 100% liable for the loan.
It is also "essential in this life situation" to consult a notary or lawyer. Either a partnership agreement should be drawn up or a civil law partnership (GbR) should be formed. In both cases, the aim is to clarify the ownership structure and make arrangements for financing and in the event of separation or the death of a partner. This provides legal clarity and prevents future conflicts over joint assets.
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