We've been working hard to ensure that anyone buying a property in joint names who isn't married is aware of some of the pitfalls that they might endure.
Many people that we speak to are not aware of the legal difference between being married or just living together. Some go so far as assuming that such things as "common-law rights", however, in reality, when things go wrong in a relationship where the couple is not married, then this can present major challenges.
Therefore, we were pleased to see this highlighted in the recent case between Leonard Kernott and Patricia Jones which highlighted some of the problems involved when couples split up.
This case involved a couple that had split up 20 years ago, and Kernott (who left) was then claiming a higher proportion of the value of the property than he was originally granted. The judge decided that even though Kernott had paid the mortgage and much of the costs, he was not entitled to claim the 50% of the value of the property.
We recommend all unmarried couples buying a property should obtain a Declaration of Trust - contact us for more information.
