Living together and jointing income is a difficult issue to solve when it involves property asset?

I have been in a bad financial crisis during my 22 years marriage and after my divorce five years ago. And now I have been in a very good relationship for four and half years and talking about living together. Mine you, he doesn't want to get marry so I can collect my ex social security later in life. He wants me to pay him like I have always pay rent towards his $525,000 house to help him pay off his house in two years so he can retire at 55. Will this bite me in the ass for helping him where there's no total committment in return for me as security purpose?


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What Guys Said 2

  • It means that tenant law applies to your living situation, and that it likely means he can remove you from the house with an eviction notice, but that is TECHNICALLY what could happen.

    That doesn't mean that's what he is thinking.

    To be perfectly frank, more and more people are finding that combining income is a pitfall that can ruin a relationship, especially a marriage.

    Further, he has a particular asset, a high-priced home that he had before you, and wants to maintain, in case the mutual "after you" happens.

    So understand that if you break up, there is no entitlement to the house for you, however you will not have jeopardized your retirement income, which may be more important for you later in life.

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  • Laws are different depending where you are.

    You may want to read up on your ability to collect your ex's social security later in life. Are you entitled to his benefits at all? And if you get re-married does that entitlement go away? Be sure. Research the social security website or visit an office and be 100% sure.

    Now your new guy... lets say it doesn't work out. Not being married you part ways and the situation is treated as if you were paying him rent. Like you were his tenant. If you were married and contributed.. you can say you're entitled to a fraction of the home's value if you two split up. At least that's how it works in CA. From the point you enter marriage all of your assets are shared - so you're entitled to half. The equity he built up before marriage is his alone though.

    From what I understand.

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