ChatterBank2 mins ago
Joint house purchase
is it possible to purchase a property jointly but with only one person paying for it ?? mother & daughter( not husband/wife)
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Is the proposed ownership a tenancy in common or a joint tenancy? A joint tenancy is when the two own the property but on the death of one the survivor becomes the owner of the whole property . That is automatic, the deceased's interest in the property ceases on their death, therefore there is nothing of it for them to leave to anyone.
A tenancy in common is when the two own the property in whatever share they decide.It might be half each or two-thirds to one third or any other share. Then both have an interest which they can sell or pass on on death.If one wants the whole property to be sold, to realise their share,and the other doesn't want it sold, the first can achieve that with a court order for sale .
Is it that the solicitor now wants the sole owner shown to be the person who is paying? It is not clear from what you say. If he/she wants something else that's more mysterious.
A tenancy in common is when the two own the property in whatever share they decide.It might be half each or two-thirds to one third or any other share. Then both have an interest which they can sell or pass on on death.If one wants the whole property to be sold, to realise their share,and the other doesn't want it sold, the first can achieve that with a court order for sale .
Is it that the solicitor now wants the sole owner shown to be the person who is paying? It is not clear from what you say. If he/she wants something else that's more mysterious.
chas,on here we don't know whether someone is familiar with the law or not. People talk of being or becoming 'joint owners' quite colloquially without knowing there are two ways in which that can be or the consequences
It looks as though the solicitor was, rightly or wrongly, wary of the motives for the proposed transaction and didn't want to be involved.
It looks as though the solicitor was, rightly or wrongly, wary of the motives for the proposed transaction and didn't want to be involved.