Co Ownership of Property: How to avoid complications
Are you thinking about buying a property in partnership with someone else? It can lead to complications...
John Gallagher from Argon Law explains the different complications that can arise and how to deal with these issues responsibly.
There are two types of co-ownership, Joint Tenancy and Tenancy in Common. What are the differences in these co-ownerships? Press play to find out!
Some other issues to consider:
-Who is to occupy the property?
-How are the outgoings for the property to be met?
-What happens if one owner wants to sell their share before another is ready?
-How will disputes between co-owners about such matters be resolved?
It's wise for co-owners to sign a contract about such issues before buying a property and before problems arise.
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