What should I do if boyfriend moves in?

[meglet]

My boyfriend's rented accomodation comes up for renewal in a couple of months and I'm considering asking him to move in with me. I have a mortgaged house that I have had for about 2.5 years. There may be some equity in the property but, seeing as prices have dropped recently, probably not as much as there was when I bought it.

I want to be realistic about things and protect myself as much as possible should things go wrong between us. I am not suggesting avoiding anything he may ultimately be entitled to but does anyone have any suggestions about the most prudent way of going about this?

Many thanks

[Postdog]

It's really very simple, it's YOUR house. His moving in does not give him any rights.

[bobs1975]

Its not uncommon these days for couples who have differing assets or money to sign contracts agreeing what is split in case things go wrong. I have many couple friends in the situation where one is a lot wealthier than the other. They have bought a house and signed a contract where the one who puts down the deposit gets that back (if the price hasn't dropped) and they split any profit. It works well for the one without money as they can get on the property ladder. Your situation is slightly different as you already own but your could have him as a rent payer for a while then if it gets serious ask him to become joint owner - have contracts drawn up stating the above. Even suggest it to him now to gauge a reaction.

[meglet]

Thanks both for your responses.

[4getmenot]

I;m in same situation my man is moving in end of April I own my flat he was in tented. I dont know whether its just me but I'd like to think we wont split up. He's just giving me half billa every month. Would be good to see some answers

[gentleman]

Hi 4getmenot,

No matter what you think. It is best if he provided for every bill half share between you and him. Property, service, property maintenance, food etc etc. Log all payments he makes to you. It would be better if he paid it directly into you account for records purposes. All you need to do is let him pay a sum you think is sufficient fo the months expenditure and sundry expense in advance. In this case, if he upped and went you do not have to take him to a small claims court. It is like him renting a place of his own except you are not profited. But nevertheless the Tax Man allow you to rent-a-room of an allowance of �4250 if you also live in the property you own.