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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

We bought our first house and we chose Winston Solicitors based on our friend's recommendation. We are very happy with the service that they provided during the entire process. Leasa and Julie are very knowledgable and extremely prompt in answering our questions. They informed us in a very clear way in each step. We definetely recommend them.
Pinar
Cannot thank the Samantha and Michelle enough for their service. This is our second time using Winston’s to buy a property and we would not go anywhere else. Samantha is professsional, efficient and nothing is ever any trouble. They kept us informed throughout the whole process. Would not hesitate in recommending them to our friends and family.
Stacie
We have used Winston’s for 2 purchases now; Samantha and Michelle outstanding on both, always kept us up to date, and nothing was too much hassle. Others cannot come close, super efficient, and would definitely recommend.Chris and Stacie
Ms Cunningham
Prompt responses, clear communications - a professional service and would happily use again and strongly recommend to others for conveyancing.
Nicholas
Sidraa and Tom were absolutely fantastic. Sidraa was efficient, fast as replying and detailed. most importantly however, she was kind and showed great empathy in what is a very stressful time during someone’s life. Winston’s are very lucky to have such a fr was solicitor.
Amy
Leasa dealt with my sale and purchase. She's been super responsive and helpful. The daunting selling and buying on a long chain in the end went smoothly thanks to Leasa! Highly recommend!
Yuan
Winston Solicitors provided a conveyancing service to me. I found them very friendly and couteous, and their service was always professional and efficient. I was kept informed throughout, and any queries were dealt with promptly. I would not hesitate to recommend them to others.
Michael
I recommend Winston’s: professional, always kept me informed of progress, provided me with a very efficient and personal service.
Annie