Buying Property as a Couple: Is Marriage Necessary?

13 Oct Buying Property as a Couple: Is Marriage Necessary?

Purchasing a home as a couple is a major milestone in any relationship. When making this decision, it’s common to have many questions—such as whether a property can be jointly owned, how marital status affects the purchase, what happens if the couple is married under a community property regime, whether there’s a difference between cohabiting and being legally recognized, or what the implications are in case of separation.

If you’re considering buying your first home with your partner, it’s essential to understand the legal and financial implications based on your relationship status. At BCN Flat Hunter, we answer all these questions.

Buying a Home as a Married Couple or Registered Partnership

Many people wonder whether being married or registered as a domestic partnership is required to buy property together. While it’s not a legal requirement, purchasing as a couple can offer certain advantages.

Advantages of Buying Property as a Couple

1. Easier Access to Financing: Banks often view stable couples as lower-risk borrowers, which can increase the chances of securing a mortgage.
2. Better Mortgage Terms: Having two incomes and a defined legal status may lead financial institutions to offer lower interest rates and more flexible conditions.
3. Tax Benefits in Case of Separation Before Three Years: If a married couple sells their home within three years and reinvests in another primary residence, they may be exempt from paying capital gains tax (IRPF). This benefit doesn’t apply in the same way to unmarried couples.

Buying a Home While Married

Community Property Regime

Under this system, the property belongs equally to both spouses, regardless of who contributes more financially. This can lead to complications in the event of divorce.

Separate Property Regime

Common in some autonomous communities, this model allows each person to maintain separate ownership of their assets. If contributions to the purchase aren’t specified in the deed, ownership is split 50/50.

Buying a Home as an Unmarried Couple or Domestic Partnership

Domestic partnerships don’t follow a marital economic regime but often operate similarly to separate property arrangements. Unmarried couples should legally define how the property will be managed in case of a breakup to avoid future disputes.

Before buying property as a couple, it’s crucial to evaluate the best option based on your personal and legal circumstances.