If you purchase a property jointly with a friend, family member or partner there are several ways that your share in the property can be held. Shares can be equal or unequal and on sale you would be entitled to that share of the proceeds. Even if a person’s name is not on the title deeds it is still possible for them to own a share of the property.
Specialist advice to record the true position, and avoid future lengthy or expensive disputes is strongly recommended if:
- You have contributed to the purchase price unequally or gifts have been made to help one or all parties with their purchase;
- You have investment property;
- You have different family situations e.g. both parties have children from previous relationships. If you are in this position you can speak to a member of our Trusts team who can advise you.
If you would like to discuss co-ownership and your options in more detail, please contact a member of our Residential Conveyancing team.