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gay couple with property

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1 gay couple with property on Wed May 11, 2011 9:43 pm

vca3210


Arresto Menor
I and my longtime partner recently finally decided to buy a house and lot in Paranaque after so many years of renting in Q.C.

So as to simplify the transaction, my partner and I decided that since he paid for the house and lot, the property will be titled under his name. I however shouldered all the taxes.

Mind you, I and my long-time companion are in a very caring relationship. Although we've always had our own place separate from our respective families, we both have always maintained a cordial and respectul relationship with each other's family.

But I now realize that this can suddenly change if something unfortunate happens to either of us like, God forbid, an untimely demise due to accident or sickness. Several of his brothers and sisters are not in good financial situations and it's very likely that as siblings, they will stake their claims on our property titled in favor of their brother, my partner.

I have voiced out this concern to my partner and he fully understands. He told me to go draft a living will that will state that in case of his demise, I as his longtime companion should be the sole guardian of the property, with exclusive use of the house and lot until my own demise. He said that he is agreeable to sign a document containing such condition.

Will this be legal? With such a will can I be assured that I will not be thrown into the streets homeless if his siblings decide to put a claim on our property?





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2 Re: gay couple with property on Thu May 12, 2011 3:13 pm

attyLLL


moderator
just the use? not ownership of the property? yes, that will still be legal. that is called usufruct or the right to use the property.


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3 gay couple with property on Thu May 12, 2011 10:12 pm

vca3210


Arresto Menor
attyLLL wrote:just the use? not ownership of the property? yes, that will still be legal. that is called usufruct or the right to use the property.

attyLLL, thx for your reply.


Since I paid the taxes of our recently acquired property (capital gains, transfer tax etc)and will surely shoulder a significant share of the maintenance cost, can my partner name me as the inheritor of the property, wherein I have exclusive rights including its sale, if I so choose to dispose of it. (Note: the property has been titled under his name only.)

I'm also thinking of a scenario where I can sell the house and split the proceeds 50/50 with his immediate family (his siblings/parent)?

Or the other way around, in case I die first, can we put in writing, that the equivalent of my proportional share of the property go to my family - to (my siblings/mom), if my partner decides to sell the house and lot?

I'm really afraid and confused as I've heard about some very sad and unfortunate stories very similar to this.

Would appreciate some advice now.

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4 Re: gay couple with property on Thu May 12, 2011 11:39 pm

attyLLL


moderator
clarify first with your partner what is your rightful share. you can convert that into partial ownership of the property, he can sell an undivided share to you. for example you will be joint owners, 80-20.


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5 Re: gay couple with property Today at 11:42 pm

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