But as I told them each person is an individual with their own history regardless of your marital status.

“The 2% Rule” seems to be a fast favorite among new investors, and since I’m a tell-it-how-it-is (or at least tell-it-how-I-think-it-is) kind of guy, I figured I’d write a post to call it out.Before I go into why I think it’s so dangerous, first let’s understand what it really signifies.

Borrower's WaiverThe Borrower waives presentment for payment, notice of non-payment, off-set, protest and notice of protest and agrees to remain fully bound until this Note is paid in full.Lender's IndulgenceNo relaxation, indulgence, waiver, release or concession of any terms of this Note by the Lender on one occasion shall be binding unless in writing and if granted shall not be applicable to any other or future occasion.Binding EffectThe terms of this Note shall be binding upon the Borrower's successors and shall accrue to the benefit and be enforceable by the Lender and his/her successors, legal representatives and assigns.JurisdictionThis Note shall be construed, interpreted and governed in accordance with the laws of the City of Makati and should any provision of this Note be judged by an appropriate court of law as invalid, it shall not affect any of the remaining provisions whatsoever.GeneralWhere appropriate words signifying one gender shall include the others and words signifying the singular shall include the plural and vice versa.Paragraph headings are for convenience of reference only and are not intended to have any effect in the interpretation or determining of rights or obligations under this Note.Signed at ______________________ on this ________day of ________________________20____. (1) Borrowers Name ___________________________________(1) Borrower's Signature ________________________________ (2) Co-Maker’s Name __________________________________(2) Co-Maker’s Signature _______________________________ Signed in the presence of:(1) Lender’s Name _____________________________________ (1) Lender’s Signature __________________________________

So what does ‘in place’ signify?

Regardless, many jurisdictions require her to be on the mortgage as a spouse, to put the world on notice of a marital asset; while not being on the Note.

In most states, it's illegal to discriminate based on marital status. 

In most states, property acquired during the marriage is marital property and the equity in the property would be included in any property settlement the divorcing parties agree to.How you financed the property is not a consideration in your example.

In each of the last last two years the owner has spent $30,000 in repairs and maintenance which is significantly cutting into the profit margins but seems to signify that the property has a lot of differed maintenance issues that are finally coming into the light.  

In addition to the source of income, these may include characteristics such as ancestry, marital status, age, military status, and student status.

Something along the lines of, that if you do pay off her debt and the marriage lasts less than ten years she either repays you or pays you ten percent of her income from her job, whatever that ends up being for ten years after you break up or she can get a loan and repay you what you paid off or you get the value of what you paid off in assets before marital assets are split.