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Advice

View the wider picture when buying a home together

Leasa Foster Leasa Foster
2 min read

Buying a home is exciting but you must remember to consider legal ways to protect yourself. Having a conversation now about the possible future eventualities is sensible and could prevent legal and financial difficulties later down the line.    

Who owns the home you buy together?

When you buy a property with another person, there are two types of property ownership:  

Joint Tenants (Joint Tenancy)

You own the property equally irrespective of whether one person has put more into the pot than the other.

On death the property automatically goes to the other owner (Right of Survivorship). This avoids probate and inheritance tax issues.

You cannot leave your share of the property to anyone in your will.

Tenants in Common

You can own the property in different shares.

On death your property does not go to the other owner unless noted in your will or through the intestacy rules.  

You can leave your share of the property in your will.  

Couples, who are not married, tend to opt for Tenants in Common as the property can be owned 50-50 or in unequal shares. Whilst owning your property as Tenants in Common provides legal protection, there are additional ways of protection you should consider, too.

How to protect the home you buy together

Declaration of Trust  

A Declaration of Trust is a legally binding document made at the time of buying a property. It sets out your financial arrangements, detailing shares or what sums of money are paid back to each party in the event that the property is sold or disposed of in the future.  A Declaration of Trust is a great way to avoid confusion or assumptions.  

Cohabitation Agreement

This is a legal document between unmarried couples who are living together. It can cover bank accounts, debts, household bills, vehicles and even care of pets in the event of the end of the relationship.    

When life decisions require legal advice from different specialist areas, you will see the benefit from using a team who work together across departments, to provide you with one seamless service. 

Client feedback

Friendly and helpful
jeanette.dresser@gmail.com
We used Leasa for both sale and purchase and cannot recommend enough! Everything was dealt with promptly and barely ever had to pick up the phone as we constantly received updates as things progressed. Will use again in the future!
Elle
We recently worked with Winston Solicitors on a buy-to-let purchase and found them to be efficient and easy to work with. They communicated clearly and kept things moving without unnecessary complications. Overall, a smooth experience, and we’d be happy to work with them again.
Anonymous
I would highly recommend winston solicitors. Samantha and Michelle completed our sale/purchase quickly and efficiently. When I called I could get straight through to them, when I emailed I got a response with in hours. They made the process stress free. Would definitely recommend.
Jessica
Whilst I can't comment on Winstons as a whole, my dealings with Leasa and Julie were only positive. Leasa especially was always available at the end at end of an email and was always helpful and efficient. Would definitely recommend.
Adam
We were very pleased with the communication throughout all the months the sale was proceeding. Laura sent emails to us of updates on a very regular basis and she also responded very well to any queries I had by telephone, as did Amanda, Laura's assistant. We are both very grateful for all the work done on our behalf.Mary and Joseph Oakley
Mary a
Feel we can trust and rely on Leasa at Winston’s to get the job done. We never have to chase for updates. There process allows us to see our updates.
Deborah
I have used Jeremy Conway at Winston’s solicitors for the past 10 years and would completely recommend them. The communication is excellent as well as the legal advice.
Ruth