Legal Question in Real Estate Law in New York

Buying a House with Girlfriend

I'm in the process of buying a house with my girlfriend, and though there are no problems with the relationship now we both want to protect ourselves for the future. The house will be in my name, she is contributing a significant amount (over $10k) to the purchase price of the home. My question is how would I go about writing up a contract that will hold up. If something happens I am more than willing to give her the money back with interest, but I think both of us would feel better if it was in writing. Do I need a lawer for this type of document? Thanks

Sean


Asked on 7/14/05, 1:59 pm

4 Answers from Attorneys
William Frenkel Frenkel Sukhman LLP

Re: Buying a House with Girlfriend

You have several choices about how to document your intended transaction, provided that you do not contemplate marriage (which may change some aspects of your agreement by operation of law and may require a prenuptial agreement), but it sounds like you may want to have a loan agreement where repayment is subject to a condition precedent (break-up). You do not need to be represented by counsel if you do not want to and feel comfortable drafting contracts and understand their legal consequences but most folks leave matters like these to attorneys. This does not sound, though, like a matter where a simple "form" loan document would suffice so I would not recommend the legal equivalent of "home dentistry". Good luck.

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Answered on 7/14/05, 2:26 pm
Robert R. Groezinger GroezingerLaw P.C.

Re: Buying a House with Girlfriend

Frankly, i think that you would be foolish to purchase a house without an attorney. It is probably the biggest investment of your life...why take a chance and try to become your own legal expert?

Good Luck

RRG

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Answered on 7/14/05, 4:06 pm
Steven Czik CZIK LAW PLLC

Re: Buying a House with Girlfriend

While an attorney is not a necessity, these types of contracts can be rather tricky and as such it is normally recommended to be safe and spend a bit now to avoid headaches and larger expenses in the future. While this area of law does happen to be one of our specialties, we would need some more information before making a complete and proper determination. You are welcome to contact us for a free consultation.

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STEVEN J. CZIK

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New York, New York 10012

(212) 413-4462

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The information provided by The Law Offices of Steven J. Czik (LOSJC) is for general educational purposes only. There is no attorney-client relationship established by this communication and no privilege attaches to such communication. LOSJC is not taking and will not take any action on your behalf and will not be considered your attorney until both you and LOSJC have signed a written retainer agreement. There are strict deadlines, called statutes of limitation, within which claims or lawsuits must be filed. Therefore, if you desire the services of an attorney and decide not to retain LOSJC on terms acceptable to LOSJC, you are advised to immediately seek the services of another attorney.

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Answered on 7/14/05, 4:16 pm
Phroska L. McAlister PHROSKA LEAKE McALISTER

Re: Buying a House with Girlfriend

I am in total agreement with attorney Groezinger.

Yes, you both should have an attorney.

Good luck,

Phroska L. McAlister,ESQ

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Answered on 7/15/05, 11:59 pm


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