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2 People on deeds of house

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2 People on deeds of house

Postby inshallah » Fri Oct 06, 2017 4:05 pm

If 2 people are shown on Deeds of "a" House how much of the house does each person
own IF there is no seperate agreement on that ?. There is NO Mortgage to complicate it
but just wondering whether there should be a seperate agreement, or is it 50/50%
just because 2 people (Husband & wife ) are on Deeds ?

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Re: 2 People on deeds of house

Postby atticus » Fri Oct 06, 2017 5:07 pm

Why is "a" in inverted commas?

Do these 2 hold as joint tenants or tenants in common? If the former, they each hold the whole interest jointly, and on the death of the first to die, the survivor becomes sole owner. If the latter, there is a presumption of 50-50 ownership, but that can be rebutted if there is evidence to show some other arrangement.

If there is a divorce in the offing, the court can order a transfer of property between (former) spouses.
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Re: 2 People on deeds of house

Postby dls » Fri Oct 06, 2017 6:20 pm

The decision has been made, but can be undone.

The land registry title may have a restriction saying
"No disposition by a sole proprietor of the registered estate (except a trust corporation) under which capital money arises is to be registered unless authorised by an order of the Registrar or the court.
This strange wording is there to protect a survivor owning under a tenancy in common.

In essence, if the restriction exists, the property is held beneficially under a tenancy in common. If not then it is held under a joint tenancy.

A slightly different version of Atti's (cooect) statement is that under a joint tenancy each owner owns the entire property. When one dies the other already owns it all and can dispose of it freely.

If it is held under a tenancy in common, then on the first death, the surviving legal owner has a duty to protect the interest of the deceased . Therefore an additional person must be appointed to assist .

in a joint tenancy, each owns all. There is a process called severance. It need not be formal, but translates the joint tenancy into a tenancy in common. Either party may then request the regsitration of the restriction (for a fee).
Each party then receives half of the proceeds of sale, but continues to enjoy the entire property.
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