Glossary
Declaration of Trust
A Declaration of Trust is a legal contract which covers issues regarding property shares. It is particularly useful to people buying a property who are not married. If there were to be any problems at a later stage this would help resolve situations quickly and efficiently.
Joint tenant ownership
If you own a property as joint tenants, this means if one of you were to die the survivor automatically becomes entitled to the house, regardless of anything stated in the deceased’s Will.
Living Together Agreement
This agreement is a formal deed that sets out all your rights and responsibility whilst sharing a property with someone who you are not married to. This agreement can protect you if any disputes over property or finance should arise. This document would be recommended for cohabitees who are not married or in a civil partnership.
Pre-Martial Agreement
This agreement can be drawn up if you plan to live together but intend to marry in the future.
Pre-nuptial / Pre-civil partnership Agreement
Made before a marriage / civil partnership takes place this legal contract states how finance and property would be distributed if the relationship breaks down.
Tenants in Common
If you own a property as tenants in common and one person dies, the other person will not automatically be entitled to the property.
