For LGBTQ couples, buying property together is a major milestone—symbolizing not just financial partnership but also shared goals and commitment. Yet, the journey to property ownership can come with unique legal and financial considerations. While the real estate process is largely the same for everyone, LGBTQ couples should take extra steps to ensure their rights and relationships are fully protected. Here are key tips to help LGBTQ couples navigate property ownership smoothly and securely.

1. Understand Your Legal Status

Before signing any contracts, understand how your relationship is legally recognized in your state or country. In regions where same-sex marriage is legal, married LGBTQ couples typically enjoy the same property rights as heterosexual married couples. However, in places where civil unions, domestic partnerships, or cohabitation agreements are recognized instead of marriage, the legal protections may vary.

Unmarried LGBTQ couples, for example, may not automatically inherit each other’s share of the property in the event of a death unless specific steps are taken. Always consult with a legal professional to understand how local laws may affect property ownership rights.

2. Decide How to Hold Title

How you choose to hold title (i.e., who owns the property and how) can significantly affect what happens in the event of death, separation, or sale. LGBTQ couples typically have three main options:

  • Sole ownership: One partner holds the title. This can be useful if only one person is financing the home, but it may exclude the other from ownership benefits or rights.

  • Joint tenancy with right of survivorship: Both partners share equal ownership. If one dies, the other automatically inherits the deceased’s share.

  • Tenants in common: Each partner owns a specific percentage of the property, which can be unequal. Each partner’s share can be passed to heirs of their choosing.

Discuss your financial contributions and long-term plans openly to decide which option suits you best. Keep in mind that changes to ownership later can be complex and costly.

3. Create a Cohabitation or Property Agreement

A cohabitation or property agreement outlines how expenses will be divided, what happens if you break up, and how the property will be divided. This is especially important for unmarried LGBTQ couples, as legal protections may be minimal without such documentation.

The agreement should include:

  • The percentage of ownership

  • Responsibility for mortgage payments, taxes, maintenance, and repairs

  • Buyout terms if one partner wants to leave

  • Dispute resolution methods

Think of this as an insurance policy for your relationship. It’s not romantic, but it’s wise and respectful. Working with legal professionals who offer detail-oriented conveyancing services can help ensure every clause is properly worded and your rights are thoroughly protected.

4. Consider Estate Planning Early

Regardless of marital status, LGBTQ couples should have an estate plan that reflects their wishes. A will ensures your partner inherits your share of the home (if that’s your intention), and a durable power of attorney lets them make legal or financial decisions if you’re incapacitated.

A trust can also be created to manage the property and ensure a smooth transfer upon death without going through probate. Estate planning is especially important in areas with unclear or unequal inheritance laws for non-traditional families.

5. Protect Each Other Financially

Buying property together usually means sharing debt. It’s essential to know each other’s financial situation, including credit scores, income, and liabilities. Get pre-approved for a mortgage together and understand how lenders will evaluate your joint application.

Also consider life insurance policies that would pay off the mortgage if one of you passes away. That way, the surviving partner isn’t burdened with a full mortgage payment alone.

6. Work with LGBTQ-Friendly Professionals

Choose a real estate agent, lender, and attorney who understand LGBTQ-specific concerns and are supportive of diverse families. An LGBTQ-friendly team will respect your identity, know the legal intricacies that apply to your situation, and help you avoid discrimination—however subtle it might be.

Resources like the National LGBTQ+ Real Estate Alliance or local LGBTQ chambers of commerce can help connect you with inclusive professionals.

7. Plan for the Worst—Even If It Feels Awkward

No couple wants to think about a breakup when buying a home, but planning for all scenarios is essential. Breakups can be even more complicated without legal protections, especially if only one person is on the mortgage or title. Clearly defining exit strategies in your cohabitation or property agreement can save emotional and financial stress later.

 

For LGBTQ couples, homeownership is not just about choosing the right location or negotiating a good deal—it’s about protecting each other and building a secure foundation. By having honest conversations, seeking the right legal and financial guidance, and planning for all outcomes, you can approach property ownership with confidence, pride, and peace of mind.