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Tenants in Common but no Deed of Trust
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It's a difficult situation to be in, but if you have no kids and you're able to talk about it amicably, hopefully you can get this resolved relatively quickly and both be free to move on with your lives. Good luck!0
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Like most have said on here hopefully you can do this in a way where you can get your share % you both put in, and not resort to anything nasty.
This did happen to a friend of mine where their % was equal to 100k and the partner wanted 20k of it or they were going to go and try for a 50-50
In the end she did take 80k and gave him an extra 20k
But hopefully this will not happen0 -
Why on earth did you sign before having had sight of this legal document?0
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Why on earth did you sign before having had sight of this legal document?
If you read the entire thread the OP didn't create a Trust Deed, although advised to.Currently studying for a Diploma - wish me luck
Phase 1 - Emergency Fund - Complete :j
Phase 2 - £20,000 Mortgage Fund - Underway0 -
A copy of the TR1 should be [B]available by post[/B] for £7
Panel 10 provides for the parties to specify details re the % shares etc if they wish to. However most choose not to as they create a separate agreement which they complete and retain.
If there is no specific agreement or the TR1 is silent re % shares I believe the assumption is that it is 50/50“Official Company Representative
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Brilliant, thank you. I have though also asked Solicitor if they have retained a copy that they can provide to me.0
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sk the conveyancing solicitors about getting a copy of, or sight of, their file. If you were advised to get a declaration of trust dran up then it sounds as though you may have had a covernsation wit them about your intentioons, and they may have records of that. Obviously it is not as good as having a proper Deed in place but it would be relevant evidence i the event of a dispute.
The initial presumption is that you own equal shares but that presumption can be rebutted by evidenceAll posts are my personal opinion, not formal advice Always get proper, professional advice (particularly about anything legal!)0 -
Thank you. I have requested copy from Solicitor. As soon as I have sighted this document I will have a clear idea of the legals at least.0
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Hello - just to wrap this up, the solicitor has provided me with copy TR1, and the section 10 is silent. They have also confirmed that there is no accompanying JO doc, so I have no record of an agreement on how the property should be divided as a result of the break up. At least now I know wht I am dealing with!0
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