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Thomas Judge
Thomas Judge, Lawyer
Category: Property Law
Satisfied Customers: 32980
Experience:  Over 20 years experience
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Can a property be bought by two people as tenants in common

Customer Question

Can a property be bought by two people as tenants in common when one pays for half of the property in cash and the other has a mortgage for which they are solely responsible?
Submitted: 1 year ago.
Category: Property Law
Expert:  Thomas Judge replied 1 year ago.
In theory they can -although the mortgage company would seek to have an interest in all of the property rather than just the half owned by the one paying the mortgage. Happy to discussPlease rate positively
Thomas Judge and 2 other Property Law Specialists are ready to help you
Customer: replied 1 year ago.
If the tenant with the mortgage defaulted and the property were to be repossessed, would the second tenant lose their investment.
Expert:  Thomas Judge replied 1 year ago.
Potentially yes. Because the mortgage company would normally want a mortgage to apply over the entire property and that would be the risk. You would need to speak to the mortgage company.
Expert:  Thomas Judge replied 1 year ago.
I hope that helpsPlease remember to rate positively
Customer: replied 1 year ago.
It did. Have already rated.
Expert:  Thomas Judge replied 1 year ago.
cheers

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