Buying property for partners

Discussion in 'Buying & Selling Real Estate' started by Corzhens, Nov 13, 2015.

  1. Corzhens

    Corzhens Senior Investor

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    In places where gay marriage is not legal, there arises the problem of ownership when gay partners are buying real property. One of our gay friends bought a house and lot with the ownership under the names of 2 partners. When 1 of them died, the problem now is how to sell the property. The living partner is required to secure the consent of the heirs of his deceased partner. So I guess it is not a good idea to do that scheme of having several names as owner of the property.
     
  2. baudwalk

    baudwalk Senior Investor

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    Someone was silly enough not to have a properly written will to take care of such eventualities? Color that stupid or dumb. I recognize this article ( https://www.fidelity.com/viewpoints/personal-finance/death-of-a-financial-decision-maker ), that landed in my mail a few hours ago, may not completely apply within the Philippines legal system but it might provide some ideas. In your case, it is closing the barn door after the animals escaped, but just saying...
     

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