living in my boyfriend's house

[cactusninja]

Jurisdiction

Texas

Hi! I'm new to this forum. I live with my boyfriend. He owns the house and he paid it off several years ago. I am not on the deed as I only moved out here two years ago. We have been doing minor renovations to the house- landscaping, appliance upgrades, etc but he's about to take out a loan for $12,000 (which we will both equally pay off) so we can have a new septic system. We are also talking about another major renovation (an additional section added to the house) in the near future.
We have talked about a contractual agreement so that if something were to happen, I wouldn't walk away with nothing while he has a newly renovated home. It seems we agree on everything but we're unsure about a few things:
1) is there any property appreciation on things like landscaping? We live on a couple of acres so we've been putting quite a bit of work/money into it.
2) can we make our own contractual agreement or do we need a lawyer?
3) would me being on the deed be the best/easiest route?
Side note: he has paid off his house so I have no wish to get half of the appreciation value or anything like that. We are simply trying to figure out an agreement from what I have put in to it since I have moved in and what would qualify as something that increases the value of the property.
Thanks!

 

[adjusterjack]

1) is there any property appreciation on things like landscaping?

Not necessarily on an appraised value for marketing purposes but a better looking property certainly goes a long way to justifying an asking priced as opposed to a crappy looking property.

2) can we make our own contractual agreement or do we need a lawyer?

Up to you. But if you plan on putting a lot of your money into a property that you don't own, YOU need to consult your own attorney for the best way to write up the contract.

Keep in mind that contracts are only as good as the people who sign them. When you break up and your boyfriend won't pay your share will you be in a position to pay an attorney a retainer of several thousand dollars to sue him?

3) would me being on the deed be the best/easiest route?

Being on the deed would certainly be the best way for YOU do go if you can get him to go along with it.

he has paid off his house so I have no wish to get half of the appreciation value or anything like that. We are simply trying to figure out an agreement from what I have put in to it since I have moved in and what would qualify as something that increases the value of the property.

The nuances of all that really don't matter. You can pick an amount that you are comfortable with and if he's comfortable with it you're good to go.

Frankly, I think it's a bad idea for anybody to get financially involved with boyfriends or girlfriends. Too often one gets financially screwed when the break up occurs.

(Oh no, can't happen with us. We're in love and we trust each other.)

Everybody says that at the beginning and they all believe it until they get screwed at the break up.

 

[army judge]

Hi! I'm new to this forum. I live with my boyfriend. He owns the house and he paid it off several years ago. I am not on the deed as I only moved out here two years ago. We have been doing minor renovations to the house- landscaping, appliance upgrades, etc but he's about to take out a loan for $12,000 (which we will both equally pay off) so we can have a new septic system. We are also talking about another major renovation (an additional section added to the house) in the near future.
We have talked about a contractual agreement so that if something were to happen, I wouldn't walk away with nothing while he has a newly renovated home. It seems we agree on everything but we're unsure about a few things:
1) is there any property appreciation on things like landscaping? We live on a couple of acres so we've been putting quite a bit of work/money into it.
2) can we make our own contractual agreement or do we need a lawyer?
3) would me being on the deed be the best/easiest route?
Side note: he has paid off his house so I have no wish to get half of the appreciation value or anything like that. We are simply trying to figure out an agreement from what I have put in to it since I have moved in and what would qualify as something that increases the value of the property.
Thanks!

Here's your problem, even IF you were married.
He owned the home long before you became a friend.
You have no standing in the home, should he die tomorrow.
The home would pass according to Texas' laws of intestacy.
That means his mom, pop, siblings, etc stand to inherit HIS home.

If you want to contribute to his home rehabilitation, the law considers your contributions to be gifts.

There's only ONE way to be assured of receiving something if he predeceased you, have him put your name on the deed.

Even if he married you, you'd have no interest in HIS home.

 

[Disabled Vet]

My thoughts to protect yourself without a contract is simple. Figure out how much you would be paying a month somewhere to rent. Then pay him that amount monthly.... So your not out any money since you would need to pay rent somewhere anyway. So example would be if you were paying 600.00 for rent there. that would of covered the loan he took out in the two years that you have been staying there. simple way

 

[cactusninja]

Thank you

Not necessarily on an appraised value for marketing purposes but a better looking property certainly goes a long way to justifying an asking priced as opposed to a crappy looking property.



Up to you. But if you plan on putting a lot of your money into a property that you don't own, YOU need to consult your own attorney for the best way to write up the contract.

Keep in mind that contracts are only as good as the people who sign them. When you break up and your boyfriend won't pay your share will you be in a position to pay an attorney a retainer of several thousand dollars to sue him?



Being on the deed would certainly be the best way for YOU do go if you can get him to go along with it.



The nuances of all that really don't matter. You can pick an amount that you are comfortable with and if he's comfortable with it you're good to go.

Frankly, I think it's a bad idea for anybody to get financially involved with boyfriends or girlfriends. Too often one gets financially screwed when the break up occurs.

(Oh no, can't happen with us. We're in love and we trust each other.)

Everybody says that at the beginning and they all believe it until they get screwed at the break up.

thanks guys! All great and helpful replies!! I'm definitely not under the spell of believing "it won't happen to us, we love each other." I was married for 15 years as was he so we both know that things don't work out that way. Hence, why we're trying to figure out the best way to go about it.
Me being put on the deed has been talked about and is on the table, especially with how useless a contractual agreement seems to be. He has also given his house to me in his Will. Does that stand any ground in Texas?

 

[army judge]

Sorry! Think I may have replied twice. I appreciate all your replies, they're very helpful! We have both been married before so we're definitely not under the spell of believing "we love each other, that would never happen to us!" Hence, why we're trying to figure out the best way to go about things. Me being put on the deed is definitely on the table as we figure it all out. He has given me the house in his Will. Does that stand any ground in Texas??

Wills can be changed, lost, and often ignored.

What if you die first?

You're looking for an ironclad guarantee.

Forget it, just enjoy the moment.

If you never inherited the home, so what?

Your life goes on, you'll live somewhere.

 

[txls]

I agree that your best bet is to treat whatever you pay as rent. It will eliminate a lot of heartache later on down the road. If you like you can write up a simple agreement on your own, and if you split up and everybody plays nice then at least ya'll have the agreement to remind everyone of what the terms were. Just be prepared to walk away from the agreement if it comes down to that.
It probably wouldn't be worth going to court over.

 

[adjusterjack]

He has also given his house to me in his Will. Does that stand any ground in Texas?

It does, if he dies while you are still named in it. But even that's no guarantee.

Your name on the deed as joint owner with right of survivorship is the only guarantee.

 

[ElleMD]

Landscaping, appliances, and septic are not the sorts of things that really are long term value adds to a home. Even an addition may or may not really add any value. It is even possible that the house will decrease in value post reno, for any number of reasons. You need to think carefully about spending money to add to the value of a home you do not own. If you treat it as rent and consider chipping in for a new dishwasher as the cost of living, fine. Better would be to let bf cover the costs of maintaining his home and you can contribute financially to things that reflect your current use of the home like utility bills, cable, etc.