Legal Question in Real Estate Law in Colorado

Real Estate Question
My live-in boyfriend and I are in the process of purchasing a home together.
He is contributing 14% for the down payment, my parents are giving me a "gift" of 27% of the downpayment, and I am contributing 59% (50% of which I am borrowing and will have to pay back).
How should I go about protecting my percentage of this investment in case we break up? In the event of a break up, I assume we would have to sell the home and, according to Colorado law, would both be entitled to 50% of the equity. Until my debt is paid in full, I want to protect my percentage of this investment. What can I do? Do I need an attorney to put something in writing before our names go onto the deed?

Asked on 2/25/98, 5:09 pm

Donald Martin Martin & Associates

0 users found helpful

0 attorneys agreed

Real Estate Question - reply

There are a number of options open to you to protect each party in case of a break up. Call and I would be happy to discuss.

Regards,

Don Martin

Answered on 2/26/98, 10:23 am

Keywords

Match Any Match All

Country

State

Area of Law