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Sharing property

If one or both of you already have property, handling things correctly at the start of a relationship can help you avoid your assets becoming a point of contention later.

Some common options that couples agree upon with regards to property owned prior to the relationship include:

If one person owns property prior to the union

Ask yourself:

  • Will you both live in the property?
  • What if it is currently rented to a third-party? You could choose to live together in another property (rented or purchased together)

If both parties independently own property

Ask yourself:

  • Will you both live in one and share the income from the other (an investment) property?
  • Will you both make your properties into investments and rent another property together to live in?
  • Will you turn both of your properties into investments and purchase a new property together?

It is important to know that the home that you choose to live in becomes the marital home and becomes an asset of the union. So, if you or your partner has property, it is recommended that you consult your professional team for advice.