Partner Donall Murphy has been quoted in The Times Property Newsletter advising first-time buyers on the law relating to different types of property ownership.
The piece explores the available routes for couples to buy property if they have unequal deposits and incomes, and set terms fairly. Donall advises that couples who buy before marriage should obtain legal advice on declarations of trust and pre-nups to avoid costly disputes down the line.
If couples or friends own as joint tenants, then if any pre-decease the other their share automatically passes to the surviving owner. That is not the case for a tenancy in common. Here the deceased’s share of the property will be transferred in accordance with their will, or intestacy. Therefore it is advisable for tenants in common to have wills in place.
The full article is available to read online at The Times by subscription only.
Donall Murphy is a partner in the property law and conveyancing team. He advises both buyers and sellers in relation to freehold and leasehold transactions, dealing with many high value properties in prime locations.
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