Many Chinese couples want name on property ownership before wedding

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According to a new report from the China Youth Online Daily, many Chinese couples prefer to have their names on property ownership certificates before marrying. The survey results released on Thursday are based on the opinions of people interview in 2016.

The reports shows 4 out of 10 participants admitted they have been bothered by this question. And over half of them (66.4%) thought it is very necessary to put two persons’ names on the certification. Also, 40% participants believed solid marriage comes from shared property ownership.

Buying property in China is getting harder due to soaring real estate prices. As a result adding loved one’s name on personal property before marriage has become a major concern for Chinese couples.

“Back to the 1990s, this would not be a problem for anyone, as real estate in China was not commercialized and those very few commercial properties were at reasonable price,” said Pan Yunkang, researcher of Tianjin Social Science Institution.

Property ownership certificate. /CFP

The complicated real world dram was even highlighted in China's latest soap opera Ode To Joy. One of the main characters, Fan Shengmei, broke up with her boyfriend because he refused to add her name on his real estate certification.

The average price of property in Beijing ranged from 58,600 to 26,000 yuan (8,660 - 3,842 USD) every square meters in January 2017. Even after the Land Sale Controls implied by central government in earlier June, the property year-on-year prices are still upwards, while Beijing price are down few points.

Liu Jia, an officer from property agency based in Beijing also explained most of the times, people may spend their parents’ savings for the whole life only for one apartment, or they earn it through personal hard working. It is unacceptable that the other person simply come and share half of the property without any effort.

CFP

“Another change is social value. People used to take family as a unit in which they share everything for life long,” said Pan. “But now, couples take into consideration personal rights and gains more than a unit of the family. To protect their personal property, the ownership of real estate is more important than ever before.”

Is marriage about love or personal benefit? Liu offered the thought from the other side where people do not own a property: “Those who ask to add their names on certificate generally claim it makes a solid marriage,” said Liu. “They take it as a symbolic behavior which shows the other one’s sincerity in the marriage.”

What is your opinion on it? Would you be willing to add your loved one’s name on the real estate certificate if you own a property before marriage?