Joint Ownership of Property

What is Joint Ownership of Property?

Joint ownership means two or more people share the legal title to a property. There are two distinct legal structures in England and Wales, and choosing the right one is essential for protecting your interests now and in the future.

Joint Tenancy

Joint tenancy means each owner holds the property equally and indivisibly. If one owner dies, their share automatically passes to the surviving owner under the right of survivorship. This structure is most common for married couples or civil partners.

Tenancy in Common

Tenancy in common means each owner holds a defined share of the property, which can be equal or unequal. Each share is a separate asset that can be inherited, sold, or transferred independently. This structure is common where owners contribute different amounts to the purchase price, or where they want to protect their individual share.

Our Services

Declaration of Trust

A declaration of trust is a legally binding document recording each owner’s financial contribution, their respective share, and what happens in specific circumstances such as a sale, relationship breakdown, or death. Without one, disputes about ownership can become costly and complex. We strongly recommend a declaration of trust for any joint purchase where the parties are not married or in a civil partnership, or where financial contributions are unequal.

Shared Ownership Schemes

Shared ownership is a government-backed scheme allowing eligible buyers to purchase a share of a property, typically between 10% and 75%, and pay rent on the remaining share owned by a housing association. You can purchase additional shares over time through a process known as staircasing until you own the property outright. Our solicitors have extensive experience handling shared ownership transactions across the East Midlands.

Buying Out a Co-Owner

Buying out a co-owner means one party purchases the other’s share, usually following separation or a falling-out between joint owners. We handle the conveyancing, calculate the correct buyout figure based on ownership shares and any mortgage, and prepare the transfer documents needed to register the change at the Land Registry.

Resolving Disputes Between Joint Owners

Disputes between joint owners commonly arise over selling the property, unequal financial contributions, or disagreements about occupation. We advise on your options, including negotiation, mediation, and, where necessary, an application to the court under the Trusts of Land and Appointment of Trustees Act 1996 (TOLATA).

How the Process Works

Whether you’re setting up joint ownership for the first time or resolving a dispute, our process is designed to give you clarity early and keep things moving.

1. Initial consultation: We discuss your situation, whether that’s a new purchase, a change in circumstances, or a dispute, and explain your options in plain English. Typically arranged within a few working days.
2. Reviewing the current ownership position: We check the title at the Land Registry and any existing declaration of trust to understand exactly how the property is currently owned.
3. Advising on your options: We set out the practical routes available, whether that’s drafting a declaration of trust, negotiating a buyout, or pursuing a TOLATA application, along with the likely costs and timescale for each.
4. Drafting or negotiating: We prepare the legal documents needed, such as a declaration of trust, transfer, or settlement agreement, and negotiate on your behalf where another party is involved.
5. Completion and registration: Once matters are agreed, we complete the transaction and register any changes to ownership with the Land Registry, so the legal position matches reality.

From experience, disputes over jointly owned property is far easier to resolve when ownership shares were recorded clearly from the outset. Where no declaration of trust exists, we focus early on establishing the financial contributions each owner made, since this is usually the starting point a court will look at.

Why Choose Nelsons as Your Conveyancing Solicitors?

Nelsons is one of the largest residential property teams in the East Midlands. We hold the Law Society Conveyancing Quality Scheme (CQS) accreditation, are proud members of the Conveyancing Association, and were named Conveyancing Firm of the Year – Midlands at the LEAP Modern Law Conveyancing Awards 2024. Here is what that means for you in practice:

• Law Society CQS accredited: the recognised quality standard for residential conveyancing
• Conveyancing Firm of the Year: Midlands, LEAP Modern Law Conveyancing Awards 2024
• Member of the Conveyancing Association: committed to industry best-practice standards
• Joined-Up Advice Across Property and Private Client: Joint ownership issues often touch on Wills, inheritance tax and family matters as well as conveyancing. Our property and private client teams work together so your advice is consistent across all of these areas.
• Transparent pricing: Fixed fees for complete cost certainty from the outset
• Local Teams across the East Midlands: With offices across Derby, Leicester, and Nottingham, we offer face-to-face meetings as well as remote consultations, giving you the flexibility to deal with us in the way that suits you.
• Innovative Processes: most of the process can now be undertaken electronically including the use of electronic signatures for the Contract and Transfer deed.

Speak to Our Conveyancing Solicitors

Ready to move forward, or want to discuss your situation before committing? Our residential property team is here to help. Get joint ownership advice today on 0800 024 1976 or via our online enquiry form. No-obligation quotes available.