Law Society publishes practice note on joint ownership

Family Law|News|January 14th 2013

The Law Society has published a new practice note on issues surrounding joint property ownership.

The note explains the recent introduction of form JO by the Land Registry and outlines the benefits of both parties recording their intentions and interests at the time a property is jointly purchased. This clarification can help to prevent disputes at a later date, especially when the parties are buying property in unequal shares.

The documents notes “the many difficulties surrounding the law in this area”, adding:

“There has always been some uncertainty regarding the position of joint owners who have not made an express declaration of their interests.”

Form JO is used by conveyancers (property lawyers) to help joint purchasers make a ‘declarations of trust’, an arrangement by which property can have multiple owners.

Photo by Vienze Ziction via Flickr under a Creative Commons licence

Author: Stowe Family Law

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