March 2017

Legal eagle
Advertorial
Handle
house
buying
with care
Naomi Jones explains what you should be asking your
solicitor when buying a new home to share
A lot of people think that when they move in
together as a couple they will obtain similar rights
as a married couple.
However, it is unlikely that a couple living together
will have rights over each other’s property, even
if they have been living together for years
or go on to have children.
Sometimes couples will choose to
hold the property in just one of
their names. The other person could
claim a share if they have contributed
towards the purchase or mortgage but
this can be uncertain and difficult to prove.
Most people will hold the property in joint names
as a whole but this might not suit, for example, a
new couple moving in together for the first time.
On any separation, the property is likely to be
split equally even if different contributions have
been made.
Alternatively, each person can hold a specific
share which is useful if they are each contributing
36 LOVEEAST
different amounts. However if anything did
happen to one of them, the property would not
necessarily pass to the survivor.
So the best thing to do is to properly document
the intention of ownership to prevent any
uncertainty or dispute, such as by entering
into a Trust Deed to provide evidence of the
shares in which the property is held.
A Cohabitation Agreement is also worth
considering to cover agreements relating to
other outgoings, separation, having children
or one person leaving their job.
It may be morbid but it is also important to make
a Will to cover how shares will pass on death.
If you would like to find out more, contact Naomi
Jones on 020 3440 8172 or send an email to
naomi.jones@tvedwards.com.
tvedwards.com
35-37 Mile End Road, E1 4TP. 020 3282 3709