Buying your first home together but contributing different deposits? Here’s why you need a Minute of Agreement
When purchasing a property with a partner, many couples contribute unequal amounts to the deposit. This can happen for various reasons—one partner may have saved more, received a gift from family, or sold a previous property. Whatever the reason, if the relationship ends, tensions can arise over how the deposit and any equity are divided. A Minute of Agreement is a practical and legally binding way to protect both parties and ensure that contributions are reflected fairly.
What is a Minute of Agreement?
A Minute of Agreement is a formal legal contract, often referred to as a postnuptial or cohabitation […]