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tdlawyer
tdlawyer, Lawyer
Category: Law
Satisfied Customers: 1096
Experience:  11 years experience of general practice.
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as a common law partner, what am i entitled to financially

Resolved Question:

as a common law partner, what am i entitled to financially in a separation. our house is joint owned.
Submitted: 3 years ago.
Category: Law
Expert:  tdlawyer replied 3 years ago.

tdlawyer :

Hi thanks for your question. My name is Tony. Do you have children please?

Customer:

no

tdlawyer :

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?

Customer:

no to first question and not sure on second one - we both pay the mortgage

tdlawyer :

Do you recall anything being said about what would happen to your share of the property when either of you died?

Customer:

we have made a will and the property goes to each other

tdlawyer :

Do you both pay the mortgage in equal amounts?

Customer:

yes

Customer:

-but my partner has paid off sum lump sums

tdlawyer :

Okay. Do you have a copy of the title from the land registry?

Customer:

we will have a copy somewhere yes

tdlawyer :

Okay. Have a look for the following words:

tdlawyer :

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.

tdlawyer :

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.

tdlawyer :

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.

tdlawyer :

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.

Customer:

ok thanks that helps- w ill look for this document thanks

tdlawyer :

You're very welcome. Can I ask whether you're happy with the service today please?

tdlawyer, Lawyer
Category: Law
Satisfied Customers: 1096
Experience: 11 years experience of general practice.
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