(OR) Partnership versus tenancy in common agreement

[Caitlin Fish]

My partner and I are closing on our first duplex “house hack” 9/2 in Oregon. Very excited! He will be on the mortgage/title until we’re married, then I will be added to the title. But we agreed to have some sort of written agreement stating how much down payment was put in by each party, as well as how much equity each of us are entitled to if things ever went wrong. I drafted a simple partnership agreement stating my initial investment and 40% of any equity and net income. I’m worried about this not being a binding contract and have spoken with a couple different attorneys about them drafting up an agreement. They are all on the same page that I should be on the title (I agree, but my partner doesn’t feel comfortable with that until we’re married) and they have all come up with different agreements such as a “tenancy in common” or “co-tenancy” agreements. Also, after hearing it could cost about $1,500 to have this simple agreement drafted, I’m feeling a bit deflated. I just wanted to reach out and see if anyone else has done a deal this way and how did you protect your investment? If an attorney did draft the agreement, what kind was it and how much did it cost? I just want to make sure I’m not paying a crazy amount for something I may not need. Any tips are appreciated!