Boyfriend / girlfriend buying property
Basically we are buying property. If he dies before me....will his children take all or part of the condo. He doesn't want his children to get the property. Both our names will be on the mortgage. What do we do or have to do after we Sign.
We live in new York but the property is in Puerto Rico.
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The law in Puerto Rico provides heirs. In this case, the children are heirs and inherit the father's participation in the condo, including debts. However, the parent may grant a will and dispose of his property as he wills, but always observing the provisions on inheritance in Puerto Rico, specifically, to matters related to real estate. Through a will, you have the free disposal of one third of the heritance. In addition, in the will, he can bequeath his participation in the condo through a bequest of specific property. That is, bequeathing specifically his participation in the condo to you.