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We understand that joint ownership of property can be complicated. Just because a property is owned jointly doesn’t necessarily mean it is owned in equal shares.
Even if the intention at the outset was to own a property jointly in equal shares, subsequent actions of the parties may alter this and lead to a dispute between the parties. Divorce proceedings may well require the transfer of the joint family home to one of the parties.
Consideration needs to be given when buying a property jointly as to the extent of each owner’s share in that property and how that share is to be dealt with if one of the owners were to die. How the property is held by the joint owners is also important for tax planning purposes.
For advice on joint ownership generally please contact a member of our Property Team for a free initial no obligation discussion to ensure you get the outcome you need, at the cost that’s right for you. Please visit our Payment Options page for more details on costs.
For advice in connection with divorce please contact our Family team and for advice on tax planning or following a death of a joint owner please contact our Wills Tax & Trusts team. If any share or any entitlement to a share in a property is disputed please contact our Civil Disputes and Litigation Team.