Why it’s essential for unmarried couples to make Wills
If you are in a relationship but not legally married you need to be aware that there are no provisions made for you if your partner was to pass away, and vice versa, there are no provisions made by law for your partner if you were to pass away. Everything you own would be passed to your family by the laws of intestacy, the order of which is parents, siblings, and then uncles and aunts.
As you and your partner are not entitled to any of each others estate it’s crucial that you make Wills to make your wishes legally binding if you do want them to be able to benefit from what you own.
Statistics suggest 50% of all adults do not have Wills. It goes by reasoning some of these people must be long term or cohabitating partners and when they pass away, their partners may face financial hardship that would have been avoidable if they had just made Wills.
What happens to a house we own together if we’re unmarried?
What happens to property is largely dictated by how you own the property. Unfortunately, most people we meet are not informed on how they own their property or in fact that there are even different types of ownership and what they mean.
If you own the property as joint owners then the property is directed through land registry survivorship rules and will pass to the surviving joint owner leaving them as sole owner, as you both have 100% ownership. Property owned as tenants in common joint owners will be directed by either a Will or laws of intestacy if there is no valid Will in place. This is because as tenants in common you each have your own 50% of the property.