The purchase of a new home with a partner is an exciting prospect. It is extremely tempting not to worry about the detail and assume that “everything will be alright”. However, with property ownership comes responsibility and risk, for example.
- How will the mortgage be paid should one of you become ill or die?
- If one of you were to die, the survivor would not automatically be entitled to remain living in the property
- How would occupation of the property or the sale proceeds be divided if your relationship was to end?
Each year we are instructed in a number of cases where parties undergo traumatic court proceedings to resolve these matters. This is unpleasant, stressful and expensive litigation, which can easily and economically be avoided by considering:
- Declaration of Trust
You may like to look at our detailed article “Cohabitees” for further information – or please just ask us for advice.