{"id":351877,"date":"2016-04-04T11:02:38","date_gmt":"2016-04-04T16:02:38","guid":{"rendered":"https:\/\/content.findlaw-admin.com\/ability-law\/family\/living-together\/top-10-reasons-for-unmarried-partners-to-own-property-as-joint.html"},"modified":"2026-07-28T15:50:00","modified_gmt":"2026-07-28T20:50:00","slug":"top-10-reasons-for-unmarried-partners-to-own-property-as-joint","status":"publish","type":"page","link":"https:\/\/www.findlaw.com\/family\/living-together\/top-10-reasons-for-unmarried-partners-to-own-property-as-joint.html","title":{"rendered":"Unmarried Partners Owning Property as Joint Tenants: Top 10 Reasons"},"content":{"rendered":"\n
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Top 10 Reasons Unmarried Partners Should Own Property as Joint Tenants<\/h1>\n\n
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\n By Jade Yeban, Esq.<\/a> | Legally reviewed by Aisha Success, Esq.<\/a>\n | Last updated\n
\n \n <\/i>\n Legally Reviewed\n <\/summary>\n\n
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This article has been written and reviewed for legal accuracy, clarity, and style by FindLaw\u2019s team of legal writers and attorneys<\/a> and in accordance with our editorial standards<\/a>.<\/em><\/p>\n\n <\/div>\n <\/details>\n\n

\n \n <\/i>\n Fact-Checked\n <\/summary>\n\n
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The last updated date refers to the last time this article was reviewed by FindLaw or one of our contributing authors<\/a>. We make every effort to keep our articles updated. For information regarding a specific legal issue affecting you, please contact an attorney in your area<\/a>.<\/em><\/p>\n\n <\/div>\n <\/details>\n<\/section>\n\n\n

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Key Takeaways<\/h2>\n

Joint tenancy lets unmarried partners own a home together and share in the equity, tax benefits, and financial growth that come with homeownership. It also provides clear proof of ownership and, when paired with the right deed language, can ensure the surviving partner automatically inherits the property.<\/p>\n\n <\/div>\n <\/div>\n<\/div>\n\n\n

Purchasing a home is a common rite of passage for married couples, or at least it’s a financial goal. But\u00a0unmarried partners<\/a>, perhaps concerned about the long-term risks of a 30-year mortgage, are typically more likely to stick to the rental market. After all, rentals are easier to walk away from since there’s no equity to be recovered at the end of a lease period.<\/p>\n

Still, some unmarried and cohabitating partners choose to capitalize on the financial advantages and long-term growth of home ownership. Investing in property together can be a great way to build equity and lock in stable housing costs through a fixed mortgage instead of rising rent.<\/p>\n

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While it may make financial sense for some, joint tenancy still comes with risks. Talk to an attorney near you<\/a> to learn how to structure your ownership and\u00a0protect your equity in the event of a breakup.<\/p>\n

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Below, FindLaw shares 10 benefits of unmarried partners owning property as\u00a0joint tenants<\/a>.<\/p>\n

10. Joint Tenancy Is Simple<\/h2>\n

Joint tenancy is easy to achieve. Joint tenancy is a straightforward way for domestic partners to own property together. You can do this by including a clause referring to that form of ownership in the\u00a0title to the property<\/a>.<\/p>\n

When you buy a home together, both your names are on the deed as co-owners. This gives each partner legal property rights. It’s always recommended to get legal advice to understand any potential legal issues<\/a>.<\/p>\n

9. Shows Commitment to Your Relationship<\/h2>\n

Purchasing real estate together is a big step that shows commitment to one another. It’s a decision that should involve serious discussions and a clear understanding of each other’s finances.<\/p>\n

These discussions should also cover your long-term goals, expectations, and how you envision your future together. Both partners should have a clear understanding of each other’s financial situations, including income, debts<\/a>, credit history, and spending habits. This transparency helps set a solid foundation for managing joint finances effectively.<\/p>\n

Further, buying a home together can foster teamwork as you navigate the real estate market, make decisions on the type of property that suits both your needs, and agree on a\u00a0location that aligns with your lifestyle<\/a>. This process encourages both collaboration and compromise.<\/p>\n

8. It Can Provide Financial Security<\/h2>\n

Becoming\u00a0joint tenants<\/a> (or homeowners in general) usually makes more long-term financial sense than paying rent year after year. Homeownership is an investment that can provide financial security for both partners and even partially fund your retirement.<\/p>\n

As joint tenants, both partners can tap into the equity in the home<\/a> in case you need money in the future. This can be especially important in the event of a breakup.<\/p>\n

7. It Has Tax Benefits<\/h2>\n

Homeownership can provide\u00a0significant tax benefits<\/a>\u00a0to the couple. These benefits can be more complicated when the couple is unmarried. A married couple that owns a home can take the mortgage and property tax deductions on their joint tax return.<\/p>\n

An unmarried couple cannot file a joint return<\/a> and will have to figure out how to divide those tax benefits. If it makes more economic sense for one party to claim the deductions, the other should be compensated in some other way, such as by being responsible for fewer household expenses.<\/p>\n

6. It Prevents Gift Taxes<\/h2>\n

If only one member of an\u00a0unmarried couple\u00a0owns the home and lets the other party live there rent-free, the IRS may consider that arrangement a gift to the nonpaying partner. If that gift is worth more than $19,000 a year<\/a>, or the equivalent of about $1,583 rent per month, the giver-or the homeowner-will have to pay\u00a0gift taxes.<\/p>\n

You can avoid this gift tax<\/a> complication if the homeowner charges the other partner rent and keeps accurate books and records.<\/p>\n

5. It\u2019s a Shared Asset<\/h2>\n

In a joint tenancy<\/a>, the property is a shared asset. This means any increase in the property’s value belongs to both partners equally. Equal ownership of assets can create a balance of power in the relationship. It’s like a joint bank account but for your house.<\/p>\n

In the event of a sale or a refinance, both partners benefit equally from any financial gains. Additionally, joint tenancy can include a right of survivorship<\/a>, meaning that if one partner passes away, the surviving partner automatically inherits the other’s share.<\/p>\n

4. It Creates a Shared Debt for Borrowers<\/h2>\n

As joint tenants, you are most likely also joint debtors<\/a>. If both partners are named on the mortgage note, neither is saddled alone with the corresponding debt, and they both share equally in this financial burden. This is important to consider when talking with your lender.<\/p>\n

Additionally, the way joint tenants manage this debt can impact each partner’s credit score. Timely payments can positively influence both credit scores<\/a>, while missed payments may negatively affect them. It\u2019s crucial to maintain open communication and a clear financial plan to ensure both partners protect their creditworthiness.<\/p>\n

3. It Provides Proof of Ownership<\/h2>\n

If the relationship does not last, each party has sound legal proof of their entitlement to an equal share of the property. In a joint tenancy, each partner’s name is on the title. This provides clear proof of ownership and can help prevent misunderstandings or disputes over who owns what.<\/p>\n

You can also draft a cohabitation agreement<\/a> to further safeguard your stake in the property. A cohabitation agreement is like a prenuptial agreement, but designed for unmarried couples who may acquire wealth, debt, and property together. A qualified attorney can help with this contract.<\/p>\n

2. It Brings Combined Financial Strength<\/h2>\n

By combining their incomes, unmarried partners often qualify for a larger mortgage than they could individually. This increased purchasing power can enable couples to:<\/p>\n