I live in NYC & plan to invest in real estate in other states with my boyfriend. Only I can take a mortgage @ this time but we are going to split expenses and profits 50/50. I drafted a partnership agreement that states that we both contribute 50/50 towards purchase & share all expenses & my boyfriend has 50% share in the property. If we both sign the agreement & have it notarized, is it a valid document? Do we need to file it anywhere?
1 Answer from Attorneys
You're kidding right? You're investing in real estate located in other states with a dude you're not married to; taking out a mortgage, etc., and you're going to rely on a partnership agreement you found on the Internet to protect your interests? If you don't see a lawyer in person for this you'll be making a grave mistake which is going to cost you bigly in the future.