To worry that DS is putting the deposit down for a joint mortgage?

[yunhi]

DS is 26 and his girlfriend is 21. He has a large amount of money that was used to purchase a flat from when his father died. His girlfriend recently moved in and now they are buying a house together. He's putting 100k into it and it will be a joint mortgage. Doesn't that mean if they split, she will be entitled to half of that? He says he isn't concerned about that at all. But AIBU to be slightly worried here?

[WBWIFE]

So I bought a house aged 20 with my ex and put down 8k and he put down 2k.. stupidly didnt protect it as thought we would be together forever as wed been together for 5 years and bam, 6 months later he was gone and trying to get me to move out and sell the house 'for his half'.

I ended up seeing a solicitor and drawing a contract up so I had to pay him 5k monthly to him to pay him out of the house so I wasnt homeless!!

Please please get him to protect his side of it.

[Luc187]

I deal with this quite often at work, you can have a legal document drawn up called a declaration of trust that will allow him to retain his original investment should anything happen. It will cost a few hundred pounds for this type of document but is worth its weight in gold. We draft them all the time for situations like this.

[DexyMidnight]

What everyone above has said. Our conveyancing solicitor added on the deed of trust to our general bill. I'm sure it cost nowhere near £600.

The solicitor who draws it up can only act for one affected person (typically best to have him/her represent the one who'd be disadvantaged by the arrangement I.e. The gf. Very important to avoid later denials that she hadn't appreciated what she was signing.

Sol will have a chat with gf and explain implications of signing in plain English.

Technically your son should then see a different solicitor but all he has to do if verify he's taken advice and understands.

[DexyMidnight]

P. S. Don't forget about the stamp duty. Our deed says I'll get (x) back out of the proceeds of sale then balance divided.
(x) = deposit and SDLT.