Our Joint Ownership Service
It is now becoming extremely common for parties who purchase a property together to be contributing to both the deposit and ongoing expenses including mortgage repayments for that property acquisition in unequal shares.
Many individuals do not realise that there are two different levels of ownership of the property. The legal title states the names in which a property is stated to be owned and those are the names that are recorded at the Land Registry. However, the beneficial title can be owned by the same people or different people and can be in equal or unequal shares.
Our elite legal experts are able to advise you on the most suitable form of joint ownership for your circumstances and how this should be recorded.
If your situation is a little more complex, we may recommend to you that a declaration of trust is the most suitable way to record arrangements between you.
Declarations of trust are essential where one party is contributing substantially more or all of the deposit funds. It is also common for the deposit to be funded as a gift from one of the parties families and they wish to ring-fence that particular sum of money. If one party will be paying all the outgoings or perhaps only one party residing in the property, then again these are good examples of occasions where a declaration of trust should be seriously considered.
You also need to consider how to deal with your respective share in the property following your death and your will need to stipulate what should happen to your share when you pass away and whether the co-owner will have the right to remain in the property until their passing. Our highly respected private client team will be able to advise you fully on these other aspects of joint ownership of property.
You may also consider that a cohabitation agreement would suit your circumstances best and our expert family team can draft agreements for you in this regard.
Our Experience with Joint Ownership
At Myerson, we have a respected team of solicitors who are able to advise you in a friendly manner on the various options open to you and other factors you need to consider.
Our team is recognised as one of the friendliest and most approachable in South Manchester and Cheshire whilst at the same time being the market leader in terms of knowledge and experience.
Our expert residential property solicitors have a wealth of experience and are able to do is deliver a bespoke prestige service responsive to your needs.
Examples of cases
- Series of declarations for one family to gift equity in an investment property over a period of time to ensure that this was done in the most tax-efficient manner.
- Declaration of trust prepared to differentiate between the capital value of the property and entitlement to rental income deriving from it.
- Declaration between an unmarried couple to clarify their respective contributions to the purchase price and associated costs along with the renovation of said property.
Why Work With Our Residential Property Team?
- We have been ranked as a Top Tier law firm by the Legal 500 for the last seven years.
- You will have access to more than 30 property experts across the Myerson Property Group, including residential property, property litigation, construction, commercial property, conveyancing and development.
- You will receive city-quality residential property legal advice at regional prices.
- We provide a partner-led service to ensure you receive the very best legal advice and commercially minded support.
- We have a large team which can meet your deadlines.
- We understand that each transaction is bespoke to your circumstances and that you need support from a conveyancing lawyer who is experienced in dealing with a wide variety of clients and types of work.
- We are a full-service law firm operating from a one-site office, which means our property teams communicate effectively and efficiently.
- We use the latest technology to ensure that we are working as efficiently as possible, and that geographical distance is no bar to us from providing excellent client service.
Meet Our Residential Property Solicitors
Home-grown or recruited from national, regional or city firms. Our residential conveyancing solicitors are primed to provide a stress-free premium service, whilst solving your residential property matter.
Heather is a Partner and Head of our Residential Property Team
Carly is a Senior Associate in our Residential Property Team
Annie is an Associate in our Residential Property Team
Olivia is an Associate in our Residential Property Team
Lisa is a Paralegal within our Residential Property Team
Laura is a Solicitor in the Residential Property team.
Holly is a Paralegal within the Residential Property Team
Josie is a Legal PA in our Residential Property Team
Contact Myerson Solicitors
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