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Yes, it happens all the time. The lender will naturally evaluate each of you separately for financial reliability. The two of you should also have a (written) agreement that spells out your mutual obligations to make payments, and how to terminate the agreement if such an event occurs. Some thought should also be put into estate planning, such as "joint tenants with right of survivorship", or holding the property in a jointly owned trust. Otherwise you could end up being co-owner with your former partner's parents or a local charity. There is a "Spousal Equivalent Handbook" that may give you further ideas for issues related to non-married homeowners.
First answer by anonymous. Last edit by Wutzyerproblem. Contributor trust: 534 [recommend contributor]. Question popularity: 165 [recommend question]
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