The answer will be outlined in the contract that the two of you are signing, that begins the investment partnership that you're forming. Are you doing a "joint partnership", an "LLC", ask the attorneys who are drawing up the documents.
Yes, I'm being sarcastic.... no, your dad did not hire me.
Listen to your dad. IF you do this, and then you break up, the one who hires the best attorney will fare better in the distribution of the proceeds (or debt). Think for a moment - "WHAT could possibly happen that would result in the two lovebirds NOT ending up married?" I can think of a few things, but suffice to say, if you two don't get married, it will probably be due to something that leaves you VERY angry at each other - either looking for guns or lawyers, or both. (I don't think that would happen either, but IF it did...)
14 yrs Realtor - Heard it all before...... believe me.
32 yrs reading the Bible.... the answers are in there...