Legal Question in Real Estate Law in Florida
property agreement
My fiance and I recently purchased a home together and are joint tenants. We want the house to go to the other if one of us dies first.
However, I put $85,000 into this purchase with the equity from my previous home. We share the remaing mortgage and tax and insurance costs on a monthly basis.
We want to draw up an agreement that states that I will retain this money if we decide not to continue to own the home together, and that we agree to return the $85,000 to me and split any remaining profit from the sale.
What would be the best way to get this into writing?
2 Answers from Attorneys
Re: property agreement
The most simple way to protect you is for there to be a lien filed in favor of you for $85,000.00. The lien could be a mortgage. It should recite that it is the intent of the parties to acknowledge a lien in your favor representing the cash equity you invested from the sale of your former home.
Re: property agreement
Go to an attorney, unless you don't really care if it is done correctly.
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