Legal Question in Real Estate Law in Maryland

You can put together an agreement that spells out what happens to the property in the event that you separate. For example, you could have a "buy-out" provision that sets forth a procedure that allows one of you to buy out the other's interest. Presumably your "significant other" would want to claim the greater percentage of any equity in the property in view of their initial contribution, but bear in mind that if each of you is contributing to the mortgage payments, your share of the equity would necessarily increase as the loan is paid off, and you would also be entitled to a share of any appreciation in the value of the property. Such agreements typically set out a timetable for presenting and then negotiating an offer to purchase. If the parties are unable to agree on a purchase price, a mechanism is set up to arrive at a purchase price using an appraisal or a realtor market value analysis. Alternatively, the parties can agree that if there isn't going to be an internal transfer, they will put the property on the market. In the interim, you must agree on who is responsible for mortgage payments and other maintenance (taxes, insurance) following a separation.

I suggest you see if your partner is interested in such an agreement, and if so, consult an experienced real estate or family law attorney to help you prepare one that covers these points. Of course, even if you have such an agreement in place, it still would have to be enforced if one party breaches it, but at least then you would have the basis for legal action.