To ask millionaire partner to agree to this term in ‘prenup’

It's also odd he's having a mortgage, most millionaires don't. Coutts sometimes give cheap rates to HNWI and they borrow to fund businesses.

The millions could be tied up in his business, rather than free cash to buy property. Some people use leverage to take out a loan anyway if they have better uses for that money, like his business.

I don't know how many million we are talking about but 1-2 million is not a big deal. Doubt Coutts will work up much of a sweat there. There are many property millionaires due to the price of property going up in the last few decades.

OP said she is not going to work for his company already. Sensible.

it feels like such a huge power imbalance in the relationship and he is nitpicking already. Not sure I could live with it. Could you sell your house and jointly invest in the new house so ring fence your deposit and agree on the percentage of any appreciation in value you get if you leave. If he is well off the. He shouldn’t have an issue buying you out. That just feels more like a joint thing rather then yeah move in but if I’m done with you you can sling your hook!

You can protect any deposit you put into a house, ditto percentage of ownership. You could own 10%, this stops you creating a home, someone else benefitting and you having to fight for the roof over your head.
I personally wouldn't like to live in someone else's house. Rent free or no! I would feel like I was on borrowed time. It's also odd he's having a mortgage, most millionaires don't. Coutts sometimes give cheap rates to HNWI and they borrow to fund businesses.

I wouldn't sell your own home under any circumstances if you are not re marrying.
Personally I don't like rich people with controlling behaviour. He doesn't own you and I would want my name on those deeds (not a will because that can be changed without your knowledge).
Fwiw I'm a millionaire, my will leaves everything to my DH and DC. However I'm married. You and your DC are lodgers in these circumstances you are proposing. Not good for security.

It is confusing because OP, you are asking him to sign a cohabitation agreement. A cohabitation agreement implies you have some asset to protect. But cohabitation gives neither party rights to each other's assets unlike marriage. Many people still don't realise that.

That is why it makes no sense why you want him to sign a cohabitation agreement. You seem to be getting all the benefit (yes, you will move but so will he since your last post said he has to relocate).

If I were him, I would say great! Lawyer, please include a clause in the cohabitation to confirm that she has no rights to my assets and I have no rights to hers. Set that all down in black and white. I think this cohabitation agreement will come back to bite you in the arse.

I agree, wanting her to work for him rings alarm bells. As does expecting her to move when she still has dependents. The power dynamic is already clear here.

She's got a property she can rent out, she's not "broke"

I don't think she's being grabby. She's in a significantly worse financial position than her partner and doesn't want to be in a situation where they break up and she and her DC are tossed into the street the next day. She's willing to sign a pre-nup saying she does not want any of his assets, she just wants time to find a new place to live, in the event they break up.

Also, just because she owns her own property and rent it out, doesn't mean all the rent money is available. I imagine most of it goes to pay her own mortgage.

OP, I don't think you should work for your partner's company. I agree that it's better to maintain a bit of independence and, if it's a small family-type company, you don't want business disagreements to end up enroaching on your home life.

I'd also say six months living in his home when you've split could be awful for both of you.
I do think you're right to try and put something in place though.

The fact he wants you to work for his company? That rings a bad bell. Unless you genuinely expressed interest in doing so and it's a field of expertise suitable for your usual career.

Even then, why not just recruit a stranger with the correct qualifications? If you have your own things going on he shouldn't feel the need to take that over.
You should stick to your guns on working for either yourself of someone other than your partner.

I hope you don't compromise on any of the things you want and need and focus on your own wellbeing.

@DownThePubWithStevieNicks

shes already said she's not contributing to mtge ur bills, just paying her DC expenses at Uni or whatever.

@junohername

Given you'll not be paying any living expenses, why can't you save that to support yourself if you break up?

I think him agreeing to 3 months is more than fair, but considering he is loaded, he might prefer to agree to rent something fir you for 6 months IF he chooses to break it off (or causes you to - like an affair)

be careful to look properly into renting yours out.

He is paying for the mortgage and all bills and she has to pay for her own dc food and expenses- wouldn’t say that he isn’t contributing

People do draw up cohabitation agreements

The lawyer recommended I do one with dp but it never happened.

Personally I wouldn't have agreed to pay anything to dp if we split up. I have amended my will though as all my assets go to the kids which could immediately make dp homeless as they would own the house. So I put in provision for a small lumpsum that would help him rent somewhere before he could move back into his house (he also owns a house his ex lives in).

I'm not sure money on split up will work in practice - especially if you've pissed each other off!

I don't understand what this is either. You're not getting married and even if you were it wouldn't stand legally. I think if you could draw up terms and conditions of a relationship then everyone would do it but who are you going to turn to to enforce it? I think you need to have a back up fund just in case.

I'd say don't put yourself in this position while you have dependents. Once they are grown up it's a different level of risk and disruption.

unless DC were mid to older teens I’d not move their schools and housing to somewhere I couldn’t afford to stay if the relationship broke down, especially without marriage. Too much risk for you and the DC.

also no way I’d work for my much rwealthier partner’s company.

I'm joking! I'm sorry I wasn't clear enough!! I'm just stunned by how many people said this.

She's not!

I’m on his side, it sounds fair enough as is.
You’re up money wise living with him as you’ll have the rental income which you can set aside for a rainy day should it come. If you were kicked to the curb the rental income would pay for rent for somewhere for you wouldn’t it?

If he's a millionaire and you're a broke single mum it's a huge red flag he won't contribute towards any of your living expenses. Are you a couple or housemates with benefits?

Well done for thinking about this before moving in together. It's so sensible for you and him.

I think you should be able to save if you are getting money from renting your place out.

Lots. A million bucks worth [being facetious]

I did think that as soon as I posted tbh! I’ve changed my mind and don’t think OP is entitled to anything just because the partner is rich (unless it was all his idea and he’s offering options)

What baggage does he have?

ETA: Just reread the OP - she has had a horrible divorce, trauma, and will be moving into the new place with a child. Still not seeing what baggage he has though 🤔