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Hi thanks for your question. My name is Tony. Do you have children please?
Okay. Then did you reach agreement as to who would own what on separation when you purchased the property? And do you remember ticking a box on the TR1 Form when you purchased as to whether you would own as joint tenants or tenants in common?
no to first question and not sure on second one - we both pay the mortgage
Do you recall anything being said about what would happen to your share of the property when either of you died?
we have made a will and the property goes to each other
Do you both pay the mortgage in equal amounts?
-but my partner has paid off sum lump sums
Okay. Do you have a copy of the title from the land registry?
we will have a copy somewhere yes
Okay. Have a look for the following words:
No disposition by a sole proprietor of the registered estate (except a trust corporation) under which capital money arises is to be registered unless authorised by an order of the court.
If you see these words, you will hold the property as tenants in common. Otherwise, you are likely to hold the property as joint tenants. The difference is important.
If you hold the property as joint tenants, then you will both be entitled to half each upon sale, regardless of whether any lump sums have been paid off or otherwise.
If you hold the property as tenants in common, any additional payments made can be recognised when the property is sold. This means that whoever pays the most, is likely to receive the most, by reference to the percentages paid, at the point of sale.
ok thanks that helps- w ill look for this document thanks
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