CO-OWNERSHIP AND DECLARATIONS OF TRUST
Protect yourself when you own property or land with another person.
CO-OWNERSHIP
The law is designed to protect you when you own a property or land with another person and Lynwood Solicitors can help you set out the finer details of the arrangement by preparing a Declaration of Trust.
When two or people co-own a property they are either joint tenants or tenants in common. Joint tenants own 100% of the property so if one person dies, ownership instantly transfers to the other. Tenants in common, however, refers to the percentage share you and your co-owner have in a property. For example, you may own 40% whilst your co-owner owns 60%.
A Declaration of Trust allows you to protect your interests as a property or land owner. Lynwood Solicitors recommends these in order to avoid potential disputes and to ensure your financial contribution towards property or land is legally recognised.
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