Legal Question in Wills and Trusts in New York
common law tenants
my boyfriend and i live together. we are thinking of purchasing a new home together but have concerns about children and previous spouses rights to our property if something should happen to one of us since we are not legally married. is there any way to protect what is rightfully ours?
2 Answers from Attorneys
Re: common law tenants
As long as your boyfriend is legally divorced from his spouse, there should be no problem as long as you make sure that the deed is set up so that title is in both of your names "as joint tenants with rights of survivorship." These words create some certainty for you. When one of you dies, the other will automatically inherit the property, regardless of what a will says.
You might want to consider entering into a partnership agreement since you are not married. This agreement can determine your rights in the event of a separation.
Re: common law tenants
You should pay attention tho the form in which you take title to the property to ensure that, i nthe even of one your deaths, title passes by operation of law to the survivor. In addition, you should prepare or revise your wills.
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