Seeking to invest with a lover? think twice

Sometimes dating couples desire to invest together. I mean, the two are looking at building a future together and just like they discuss when to get married, have children, they also discuss how to increase the family’s assets.
Take Miriam for example. She says she is saving money with her boyfriend for their future use. However, she realises that rather than the money lying in the bank, it would be more useful if invested and her boyfriend also agrees.
Issue is she is not sure about what to invest in but says she wants something the two will easily profit from in case of a break-up.

Now, investing with a lover would not be such a bad idea, however, the uncertainty that comes with it in case things do not work out makes most people shun it. But because unmarried couples don’t have many of the legal protections given to the married ones, couples may want to weigh options before making such a commitment.

For instance, they might draft an agreement, perhaps with the help of a lawyer, (lawyers are many in Kampala now) which covers each partner’s financial contribution and what would happen in case of a breakup or death.
Some lucky ones such as Immaculate Kobusingye, a mother of two, had a smooth relationship till marriage. She says she decided with her boyfriend (now husband) that they would not be starting a family in a rented house.
So they agreed to combine resources, buy land and build a home. They got married a year after moving into their house.

Unlucky
But not all couples have been lucky. Some invest and when the relationship turns sour, one of the partners runs off with their money.
Catherine Nalweyiso, a 30-year-old business woman, is faced with such a situation with her boyfriend and father of her son. She partnered with him to purchase a piece of land in Matugga.
They both contributed half of the money but her biggest mistake, she says, was that the land title was put in her boyfriend’s name and now they have irreconcilable differences and wants her money back.
The boyfriend, however, does not want to give her her share or even sell the land so that they share the money.
“I have sought help from organisations that help women but because we were not legally married it has been difficult to help me. All they do is task him to help take care of her son,” Nalweyiso says.
Men too, are cheated
Although it is assumed women are the ones that usually lose out in case of a breakup, some men have also suffered at the hands of girlfriends who withhold their money.
Yusuf Konde, a 32-year-old electrical engineer, says he has never trusted women who ask to co-investing with him because he thinks as a man he should be left with such responsibility.
This Denis Muhumuza, a salesman, realised after falling prey to his girlfriend. He says while still working in Juba he put all trust in his girlfriend back in Uganda and always sent her money to make investments for him such as buying land and constructing their dream house.
“Since she put in her time and effort, I took it as part of her investment so I was okay with us sharing the land title ownership but to my surprise when I came back she denied me access to the property,” he narrates.
He adds: “When I involved the police, I was asked for evidence of ownership and I did not have any so I took it as a lesson never to co-invest with anyone without a legal binding or proof of investment.”
While married couples sometimes open bank and investment accounts soon after the wedding, it’s probably best for unmarried couples to keep their finances separate, at least in the early stages of the relationship.
Despite being in love at the moment, not investing together with a lover can help avoid disputes over property that could occur if the relationship doesn’t last.

They say

“When you co-invest with a woman who is trustworthy then you benefit even when you breakup, but one should be cautious because most women nowadays are con artists once they get the money they want from you, they leave you broke.”
Tonny Serwanga, businessman

“I would never do such because as women our contribution is never considered neither by the man or society. I have seen some of my friends co-invest with their lover sand end up being cheated because they leave the men in charge.”
Sarah Mukite, teacher

What the law says

Daniel Angualia an advocate and family lawyer with Angualia Busiku & Co. Advocates says the law is silent on property rights of cohabiting couples as it only applies to married couples under the concept of matrimonial property.
When the cohabiting couple separates, the properties that they have acquired together should ideally be shared in proportion to their contribution. The contribution of the couples towards purchase of property, asset or business should strictly be treated as a business relationship. The challenge is that cohabiting couples do not usually formalise their contributions or business relationships. The contribution is based on trust and probably anticipation to get married at some time in the future and develop together.

“It is hoped that the Marriage and Divorce Bill which is before Parliament will address the issue if passed into law. It proposes among others that where either the man or woman helps the other spouse improve their individual property (bought before or during the marriage), then the person gets an interest in the property,” Angualia says.
He adds that gifts that spouses or cohabitees give each other during cohabitation are assumed to be the property of the receiver. And the cohabiting couple shall be at liberty to make an agreement about how property will be owned or distributed if the marriage or cohabitation ends.

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