Joint Ownership
Introduction to Joint Ownership
Joint ownership of property is quite simply where more than one person owns property with another. However, there are important details. First, there are different methods of using Joint Ownership to get on the property ladder- such as:
- Shared Ownership, where you part buy / part rent off a housing association;
- 'share to buy', for buying property with friends, or buying property with family;
- joint mortgages - couples or partners buying a home together.
Secondly, there are different legal forms of joint ownership.
Got a legal query on joint mortgages?
Contact our panel of solicitors with specialist knowledge of joint ownership cases, such as friends and family members buying together.
Forms of joint ownership in law
There are two main types of joint ownership in law, joint tenants and tenants in common.
- Joint tenants: neither party can sell without the other's agreement. If one party dies, the other automatically inherits the other's share. This is ideally suited to married couples or partners buying together who are in a long-term relationship.
- Tenants-in-common: each party can dispose of his or her share, either whilst alive or through a will. This is more appropriate for friends buying a property together, where they do not intend to live together as a couple.
Next steps
If you have had an offer accepted on a specific property or are looking at properties in earnest you may wish to submit a no fee, no-obligation agreement in principle application to see how we could assist. Alternatively, if you have any queries on the legal side of shared mortgages, please contact our partner solicitors who specialise in joint ownership legal services. There is no charge for sending an initial query and no obligation to use our partner solicitors.
Latest News
Search for shared ownership mortgages!
18th May 2012
We are pleased to announce the launch of our brand new shared ownership mortgage price comparison site. We are making our site more transparent than ever, showing in clear detail the choice of mortgages available for a purchase with the part buy part rent scheme. Start searching or click on the headline for the full press release.
Shared ownership properties for sale
16th May 2012
Are you looking for properties for sale through the shared ownership scheme? These are homes where you part buy part rent, meaning that your initial deposit and potentially your monthly payments are somewhat lower than in a normal house purchase. Look no further! We have shared ownership houses and flats available on the part buy scheme across England. Search our property portal or register for alerts.
For more information go to the share to buy home page.
Tools
- Search: search for shared ownership properties; search for shared ownership solicitors.
- Calculators: shared ownership mortgage calculator; open market calculator.
- Apply: shared ownership mortgages; agreement in principle
