• Third Party Interest

    By Guest on 06th Sep 2014

    Property in joint names but I paid all deposit. When selling can I get all proceeds?

  • 1 Answers

    By Guest on 06/09/2014

    You need to seek specific legal advice, there is no "one size fits all" answer to this question. There are a number of relevant factors such as:

    - who paid the deposit?
    - who makes/has made the mortgage payments?
    - have any improvements been carried out to the property which have added to its value and if so
    who paid for them?
    - was the property purchased as tenants in common or joint tenants? If the latter, has the joint
    tenancy now been severed?
    - did you enter into a declaration of trust or trust deed with the other owner when the property was
    purchased (or later)?
    - are you married to or in a civil partnership with the other owner?

    Hope this helps but do seek legal advice sooner rather than later.

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