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Tenants in Common - how are percentages recorded?
theoldmiser
Posts: 100 Forumite
Does anybody know how or where the percentage that each proprietor has in a property that is registered as Tenants in Common is stored? As far as I can see, it isn't stored by the Land Registry on the title deeds, and I can't find anything on the entire internet explaining this, just discussions of Joint Tenants vs Tenants in Common. Surely the percentage that each person owns of a house as Tenants in Common is very important, and should be on the title deeds?
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Comments
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land registry records legal ownership which is always joint tenants.
The legal owners hold the property as a trust for the beneficial owners(often the same people)
The beneficial owners need to record their share or how any distribution would work often using a trust deed.
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Simple trust deed specifying ownership shares can be recorded in section 10 of the TR1 form at the point of purchase. There is no need for a separate deed. Other than this, there is no record of ownership shares at Land Registry.
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