unmarried couples property rights

It has been said that falling in love consists of uncorking the imagination and bottling the common sense, and for many couples, buying a house together is an experience driven by excitement and emotion, especially in a market as hot as ours.

When a married couple in Texas buys a house, community property laws offer each person equal rights, responsibilities, and protections for their investment. But with more than 12 million unmarried partners living together in the U.S., and almost 13 percent of those being same-sex couples unable to get married in some states, it makes sense that the number of unmarried couples buying a house together is increasing.

For the unprepared couple, buying a house may mean buying trouble, too, as they fail to plan for the possibility of the relationship failing.

Dallas Realtor Franceanna Campagna has observed that firsthand with her clients.

“The home buying process is such an exciting and usually happy one, particularly for the first-time homebuyers, that people don’t like to drag in the three Ds of real estate: death, disaster, or divorce,” Campagna said. “However, I always advise clients that financial planning and estate planning is the best way to protect themselves and their investments from future unknowns.”

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It has been said that falling in love consists of uncorking the imagination and bottling the common sense, and for many couples, buying a house together is an experience driven by excitement and emotion, especially in a market as hot as ours.

When a married couple in Texas buys a house, community property laws offer each person equal rights, responsibilities, and protections for their investment. But with more than 12 million unmarried partners living together in the U.S., and almost 13 percent of those being same-sex couples unable to get married in some states, it makes sense that the number of unmarried couples buying a house together is increasing.

For the unprepared couple, buying a house may mean buying trouble, too, as they fail to plan for the possibility of the relationship failing.

Dallas Realtor Franceanna Campagna has observed that firsthand with her clients.

“The home buying process is such an exciting and usually happy one, particularly for the first-time homebuyers, that people don’t like to drag in the three Ds of real estate: death, disaster, or divorce,” Campagna said. “However, I always advise clients that financial planning and estate planning is the best way to protect themselves and their investments from future unknowns.”

(more…)

water Spigot

We’re reporting from the National Association of Real Estate Editors Houston Conference today and it has been an incredible morning just stewing with new information. The opening remarks were especially mind-boggling, as Counselors of Real Estate chair Hugh F. Kelly listed the top 10 issues facing real estate now and into the future.

“The list reflects growing economic and political turmoil, changing demographics, and the lifestyle choices of an emerging generation, rising energy independence in the United States, and a strengthening job market fueled in part by massive changes in the delivery of health care,” Kelly said.

For the full list, jump.

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