: If both names are on the mortgage, both are 100% responsible for the loan. If one partner stops paying, the other is still legally obligated to cover the full amount to avoid foreclosure.
: You cannot file taxes jointly. Only the person(s) on the mortgage can typically claim the mortgage interest deduction, and you may need to itemize to split it.
: Agree on how to split monthly costs like the mortgage, taxes, utilities, and maintenance (e.g., 50/50 or proportional to income). 2. Choose the Right Title Structure unmarried couples buying a house
Applying for a mortgage jointly can increase your buying power, but it also carries shared risks.
: Both partners own 50%. If one dies, their share automatically goes to the survivor without going through probate. : If both names are on the mortgage,
: You can own unequal shares (e.g., 70/30). If one partner dies, their share goes to their chosen heirs rather than automatically to the surviving partner.
: Only one person is the legal owner. This can be risky for the non-titled partner, who may have no legal claim to the home despite contributing to payments. 3. Strategize Your Mortgage Only the person(s) on the mortgage can typically
Buying a home as an unmarried couple lacks the "default" legal safety net of marriage, but you can create your own protections through careful planning.