<prompt> Human: Before purchasing a home with someone to whom you are not married, it is often a good idea to first sign a written agreementcontract specifying terms by which you intend to co-own the home. Basic terms of such an agreement can include things like: Whether you own the home 5050 or in some other proportion What happens if one person wants to sell and the other doesnt usually a procedure that allows one to buy the other out after an appraisal instead of having to sell the property Who is responsible for ongoing payments e.g. mortgage, repairs, taxes, and utilities, insurance and in what amounts What happens if someone winds up paying more or less than youd planned. By planning this out before you buy, you can save a lot of headaches in the event your financial or personal relationship with the person changes.In the United States, there are actually several different methods to co-own a home. One of them called tenancy by the entirety is applicable only to married couples. The two other major forms of co-ownership are called joint tenants and tenants in common. Joint tenants are each presumed to have complete control over the property. This makes it easier for either one to make decisions about the property like rent the property out or get a new loan, but it also places the property at greater risk to creditors from either owner. If one owner dies, the other owner usually gets the whole interest in the property. Often, people who buy a house together are presumed to be purchasing jointly. Tenants in common is the more business-like arrangement, where each owner has a specified share of the property e.g. 6040 that may change over time depending on who is making payments. If one person dies, their share goes to their heirs, and not the other owner. Creditors of one owner cannot get the interest of the other holder. For this reason, tenancy in common is often a better option for people who otherwise have separate finances.Finally, if you do buy a property with or without a co-ownership agreement, bear in mind that responsibility for loans, taxes, HOA fees, etc. will usually be both owners total responsibility. So similar agreements may be necessary for mortgages, etc., that relate to the home. Fair warning: this is not meant to be legal advice. This is a reddit post designed to alert people to the general topic so they can ask good questions of their lawyers and financial planners before going in with someone to whom they are not married to buy a home. I welcome comments that offer corrections or elaborations.Edit: wrote hope, meant home -- Freudian slip for sure.  <response>: Thanks for this. There are many posts about the dangers of buying a house with someone youre not married to rightfully so probably, as its not something to do without seriously thinking about the possible consequences, but its good to see some suggestions for what to consider if you do want to do it. 