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Tenants in common % registering??!
anon_y_mouse
Posts: 5 Forumite
Hi
When we bought our house, we we so relieved to have actually gotten it, that I didnt think about % of ownership etc etc. However, since my parents 'lent' (long term/early inheritance) us a large amount for a deposit, we have agreed that I should hold a higher % of ownership. So, I have changed our ownership from joint to tenants in common, but there was no-where on the form to register the % of ownership.
I have contacted our conveynancers but they want to charge £ 400 for the privelidge.
Can I draw up a simple statement, stating our agreed %, and both of us sign it in front of witnesses?? would that hold, legally?
any advice gratefully received!
thanks
When we bought our house, we we so relieved to have actually gotten it, that I didnt think about % of ownership etc etc. However, since my parents 'lent' (long term/early inheritance) us a large amount for a deposit, we have agreed that I should hold a higher % of ownership. So, I have changed our ownership from joint to tenants in common, but there was no-where on the form to register the % of ownership.
I have contacted our conveynancers but they want to charge £ 400 for the privelidge.
Can I draw up a simple statement, stating our agreed %, and both of us sign it in front of witnesses?? would that hold, legally?
any advice gratefully received!
thanks
0
Comments
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You can (legally speaking) draw it up yourselves and get it witnessed but you need to make sure it includes all the details so is legally binding in case it were ever to go to court. Is £400 really such a big outlay when ensuring thousands of pounds from your parents is protected? Alternatively try shopping around?0
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Our solicitor charged us £150 for this during conveyancing. All other quotes we got fell between £100 and £200. Perhaps they are quoting more because you aren't also paying for conveyancing. Did you get several quotes?
I would not want to draw it up myself.0
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