Tuesday, June 18, 2013
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More and more couples are making the choice to live together and buy a property in their joint names. It is best to clarify your objectives with regard to property ownership before you begin living together. It is possible for a couple to record their intentions about who will own what share of a jointly owned property at both the time it is purchased and in the future. All too often couples buy property together and split up after having made unequal financial contributions towards their home. This can result in unintended consequences and one half of the couple finding themselves financially disadvantaged.
One solution is to enter into a Declaration of Trust with your partner. This will provide a clear plan as to how the sale proceeds will be divided given your individual set of circumstances. Julia offers expert advice on the options available to individuals who wish to better protect their interest in jointly owned property.
When cohabiting couples break up, the legal issues involved can be complicated, especially where property rights and tax issues are concerned. Julia can enable her clients to understand their legal rights and can assist with negotiations to help resolve disputes. If a negotiated agreement is not possible Julia will manage court proceedings to resolve property issues. Advice about the steps which may be taken in order to protect your interest in property may also be provided.