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Transfer of Shares in Property and Joint Ownership

Transfer of Shares

There may be a time in your life when you need to amend the ownership of a property for a wide variety of reasons. These may include divorce or separation, for tax reasons, a rearrangement of assets, a wish to benefit your family, adding a new partner to the ownership, you wish to make a gift of the property.

We will provide the expert legal advice for all your questions and tasks transferring property equity.     

In this instance, “equity” is a legal term meaning the rights of financial ownership rather than the plain English meaning which is used to describe the net property value.

Joint Ownership

If you are thinking about buying a property with someone else, we advise you to seek legal assistance to make sure you find the best option for you

The most common options are:

Joint Tenants

Equal share in the ownership of the property
Commonly used by couples buying together
If one party dies, the property will automatically be given to the other joint tenant transferring ownership to someone else in your will is not possible.

Tenants in Common

Suitable if different shares of the property are needed, but can also be used for equal shares

Suitable if the property is purchased by more than two people

If one party dies, the property will Not automatically be given to the other owner
Each owner can pass on their share of the property to beneficiaries of their choice under their will

Whether you have just bought your first home with your partner or whether you have inherited property together with beneficiaries, it is important that you understand the rules of joint property ownership. We are here to advise you.


What does Tenants in Common mean?
This means that each person will own a separate share of the property. Unless it is otherwise agreed, each party would own an equal share in the property.A further consideration would be to make a will to ensure that in the event of death the property is properly disposed of.

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