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At Hardmans,
our specialist conveyancing team can help you every
step of the way when you are buying or selling your
home. There are many things to consider and it can
be very stressful - that is why we are here to make
sure everything is covered.
Jointly
owned property
When you are purchasing a property with someone
else, be it a Spouse, Civil Partner, business
Partner or whoever, then it is absolutely essential
that professional advice is sought.
Did you know,
there are two ways of jointly owning a property. The
most common way, particularly where married couples
are concerned, is as joint tenants.
The second way
of owning is as tenants in common.
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Tenants in
Common - you can hold the property in differing
proportions, for example, you can hold the
property 60/40 or 80/20 and so on. A Declaration
of Trust is also then advisable to set out the
terms of ownership more fully. However, with a
tenancy in common the property does not
automatically pass to the other upon death, but
passes according to your Will or intestacy (if
you have not made a Will).
In most cases
of ownership where owners are not married or in
a civil partnership, you should consider setting out
your respective interests in the property by owning
as tenants in common and entering into a Declaration
of Trust.
For further
advice in this matter, please contact a member of
our conveyancing team for more information.
Home
Information Packs
The Home
Information Pack (HIP) is compulsory for most homes
on the market in England Wales.
A HIP is a set
of documents that provides the buyer with key
information on the property. This must be provided
by the seller or the seller's agent. It is a legal
requirement to have a HIP and you cannot market your
property without one.
If you would
like to know more about Home Information Packs and
how to get one for your property, contact a member
of our conveyancing team for more information
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