if you are planning to obtain a bank loan to purchase the property, banks will only grant loans to joint owners who are legally married (not fiancee) and who are immediate family members. It's difficult to get a loan for a property under joint names as friends. If all goes well happily ever after there will be no issue. However, if one party wants to get out of the relationship and the joint ownership then there will be dispute as to who has paid for the property or mortgage and how much has been paid by either party to apportion the proceeds in the event of a sale. Probably a separate agreement between both parties has be be signed. Your lawyer will be able to advise further.
David Wong (License No. E2097)
Foreward Realty Sdn Bhd - E(1)1909
Mobile:
+60193330573
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