Our Real Estate Blog
Whether you’re moving in for the first time with your boyfriend or girlfriend or you’re moving in with a spouse, the thought of breaking up can be scary as far as your property is concerned. Even if you’re simply living with a roommate, rents are awfully high throughout most of the country. It’s difficult to make rent payments from month to month on your own. It’s helpful to live with another person, but what happens if and when you part ways?
At best, living with another helps your to manage your finances and gives you some companionship. At the worst, living with someone can be one heck of a financial and emotional roller coaster.
Whatever type of relationship you have aside, trying to figure out who is leaving the property and who is taking what can be a bit of a headache. Even when lawyers are involved, the process can get messy. There are a few different ways that the situation can be handled before you both need to go your separate ways.
Ideas For Coexisting
Many times, you may need to live in a space where you’re uncomfortable for awhile before you are able to part ways with the person you’re living with. Here are some ideas to get you through the transition period:
- Live together yet apart
- Stay in separate rooms, work different shifts
- Put beds in separate places
Try to have one partner buy the other out. If one roommate needs a couch and you have no interest in it, let them buy it. Splitting things evenly isn’t always possible, but sometimes need can outweigh the messy process of dividing property. Do what’s best for you and any pets involved in the process. This is a basic rule of thumb that can help you through the process of dividing your property.
Who Stays On The Property?
Once it has been established that the two of you will coexist for some time before you go your separate ways, you’ll need to decide which one of you (if either of you) will stay on the property. Generally, if you’re under a lease, it will be much more financially sound for one person to take over the lease and for the other person to go. This can save on costly fees involved with breaking the lease. If you’re thinking of subletting the place you’re living, be sure to check on the restrictions in your area or made in your rental agreements.
No matter who you are living with, going your separate ways can be difficult. With a little communication, the process can be executed smoothly.