Resolving Property Disputes Between Unmarried Couples
Planning Before Purchasing Is The Best Way To Avoid Litigation
Georgia laws regarding the equitable division of marital property are straightforward. Distinguishing between marital property and separate property also follows a clear set of rules. However, dividing property can be challenging when an unmarried couple has lived together for an extensive period and acquired substantial assets during that period.
Cohabitating couples should keep this in mind when buying a home, motor vehicle or any other major purchase. Many couples commingle money and fail to consider how assets will be divided if the relationship ends. It is wise to agree before purchasing real estate or another large asset if it should be owned individually or if both parties’ names should go on the title.
Commingled assets and disputes between unmarried partners occur frequently in same-sex relationships. If you a member of the LGBTQ community in the midst of a property dispute, Howard A. Gold, Attorney at Law, P.C., welcomes the opportunity to assess your situation and recommend a course of action.
Putting Both Names On A Title
In Georgia, each unmarried partner is presumed to own his or her own property and is responsible for his or her own debts. The exception is if a couple purposely puts both partners’ names on title of ownership or on a bank account. In these cases, it is presumed both parties own 50 percent of that asset unless otherwise stated in writing.
Mr. Gold can draft legal documents regarding joint or separate ownership of property while your relationship is intact. This will help eliminate a property division dispute if the relationship ends, which can be both expensive and stressful.
Don’t Go It Alone
If you want to create a cohabitation agreement, or if you are ending a nonmarital relationship and wish to protect your rights regarding the division of assets, call 404-692-6470 to schedule a consultation with an experienced lawyer who has helped others navigate the challenging matter of dividing assets as an unmarried couple. The firm represents clients throughout metro Atlanta.