In this enlightening episode, I sit down with Tiffany Byrd, a NC & SC family law and estate attorney to discuss a topic that can significantly impact your financial security and property investment decisions, especially if you’ve gone through a divorce.
Tiffany and I dive deep into the concept of co-ownership agreements, which are crucial for protecting your hard-earned equity when purchasing a property with a partner you’re not married to. We start by exploring the reasons why such an agreement is necessary and beneficial and we'll break down the key components of a co-ownership agreement, including terms regarding the proceeds if the relationship were to end.
Additionally, we discuss practical tips for bringing up the topic of a co-ownership agreement with your partner and how to navigate the potential discomfort around these conversations. The customization, flexibility and revision opportunities of these agreements make it the proactive protection tool you need if you're considering buying a home with a partner you're not married to. Tiffany's insights shed light on the importance of planning and open communication, not just for the protection of your assets but also for the health of your relationship.
This episode is a must-listen for any woman considering co-owning a property post-divorce. It’s about empowering yourself with the right knowledge and tools to make confident, informed decisions. Whether you’re navigating new relationships, rebuilding your life after a divorce, or simply exploring your options, this conversation provides the guidance you need to protect your investments and secure your future. Tune in and learn how to take control of your financial and personal well-being.
For more information on the P.E.A.C.E. of Mind Initiative and to access the free resource center, please visit https://peaceofminddivorce.info
Jamie Milam is a divorcée, Realtor®, Certified Divorce Specialist®, and aligned strategy enthusiast.
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Episode Moments:
04:57 Understanding Co-Ownership Agreements 09:40 When to Establish a Co-Ownership Agreement 15:59 Key Components of a Co-Ownership Agreement 24:56 Flexibility and Revisions in Agreements 27:36 The One Sign it May Be Time to PauseDISCLAIMER: The commentary on this podcast is not intended to serve as or replace professional legal, financial or medical advice. While the insights may have wide applicability, listeners should consult with an attorney, CPA, financial advisor, therapist or physician in your state to obtain advice with respect to your particular issue and/or case.
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