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Live-In Partnership
A live-in partnership is a relatively rare and very practical arrangement between two people who are not related, who will combine their resources in order to purchase a home together. This is generally done by people who either have a working relationship or a long-term friendship, and because it involves the two people living together, they generally have to have some sort of understanding about the roommate element. In many cases, a live-in partnership is done between people who would otherwise not be able to buy a home on their own. In some cases, such an arrangement might be a deal enacted between a person with good monthly income and a person with the liquidity to make a big down payment. With this sort of deal, the live-in partnership allows both people to bring something to the table in order to make the partnership mutually beneficial.