Residential Property Co-ownership Deed Tenancy in Common Fill out the template

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Residential Property Co-ownership Deed (Tenancy in Common)

Last revision Last revision 24/11/2023
Formats FormatsWord and PDF
Size Size3 to 4 pages
4.6 - 9 votes
Fill out the template

Last revisionLast revision: 24/11/2023

FormatsAvailable formats: Word and PDF

SizeSize: 3 to 4 pages

Option: Help from a lawyer

Rating: 4.6 - 9 votes

Fill out the template

This document can be used to create co-ownership on a property. It can be used for up to four co-owners and amended to reflect ownership in equal shares, in fixed proportions and in floating proportions to reflect each co-owner's financial contribution to the property. The document also provides a right of pre-emption in favour of the other co-owners where one co-owner wishes to sell their share. This document can only be used for heritable property (e.g. land, a house, flat etc) owned in England and Wales.

It should be noted that this document creates a tenancy in common. This means that the co-owners can own the property in differing shares, unlike in joint tenancy where each party owns the property equally. It also means that, unlike in joint tenancy, each co-owner's share of the property can be passed in an inheritance on death.

This document may be used if a property is being bought by a number of friends or relatives together, if a property has been given to a number of persons or relatives to own together, or to formalise an existing co-ownership arrangement.

 

How to use this document

A single copy of the document should be signed by all parties. Each signature will also need to be signed by a witness who is not one of the other co-owners. Each party should then retain a copy of the document for their records.

 

Any Applicable Law

The document is governed by the principles of trusts law.

The Law of Property Act 1925

 

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