How Do We Take Title on Our Home Purchase as a gay couple?

Searching for a home can be a very exciting time

for a couple.  Working with many gay couples over the years I have seen the excitement in peoples eyes when they find the right home and I consider myself lucky to be part of such a big step in their lives.  Many gay couples in the New Port Richey area reach out to me for assistance in selling or buying a home and one thing I have to ask every home buyer is "How do you want to take title?"

Right now in the state of Florida, gay couples cannot legally marry and without the protection of marriage you need to consider the following two scenarios that may relate to you.  Before you read on I must say that this is just a reality and I'm not happy about how much focus may be on finances over love.

You can title the home in both of your names with

full survivorship rights. That means that if one of you should pass away, the other gets the home completely as a sole owner.  I recommend this (please consult your attorney) for couples who are both financially responsible for the home by being both named on the home loan note and mortgage. You both have not only an interest in the deed but you both have a financial interest in the home.

Should you be the only person named on the home loan note and mortgage, you may want to consider being the only person named on the deed.  I know that sounds crummy but it is for the protection of the person who is financially tied to the home. I had a customer call me to list his home for sale. His ex partner was on the deed and he was the only one on the mortgage. After being apart for 13 years the title company had to issue a check for 1/2 of the proceeds of the sale to his ex. The check was mailed to his out of area address and my customer never saw a penny.  Things happen and I suggest you consult your attorney and accountant prior to shopping for a home.  Tell your Realtor what your attorney or accountant advised you to do and that is how we will have the title written.

My recommendation if you find yourself in a

situation where you and your partner are going separate ways and you are both on the deed of your home that you consult your attorney as you may be able to come to an agreement regarding the finances upon the sale of the home and what you need to do so you can retain ownership of the home.

Assisting gay couples and singles buy and sell real estate in the New Port Richey area of Florida is a large part of my business. If you or someone you know is gay and in need of a gay real estate agent in the western Pasco county area, contact me. You can use my online contact form to request information or request a phone call from me.