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Mortagge Deeds - Joint Ownership
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I am just about to buy a property with my girlfriend where I am providing half the asking price in the form of a deposit, by remortgaging a property I own.
My girlfriend is getting a mortgage in her name for the other half, but she has been told that the deeds cannot be in joint names. Is there a way round this as I don't want to be caught out if anything was to go wrong between us.
My girlfriend is getting a mortgage in her name for the other half, but she has been told that the deeds cannot be in joint names. Is there a way round this as I don't want to be caught out if anything was to go wrong between us.
Answers
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For more on marking an answer as the "Best Answer", please visit our FAQ.I am just going through a similar situation, ask your solicitor to draw up a declaration of trust and post a restriction through land registry using form RX1. This will form a binding contract between you and your partner, and also place a legal charge which will appear on the deeds in your name (similar to someone lending money on the property). When you go to sell the property, your financial interest would have to be discharged to you by the solicitor handling the future sale, before the property could be transferred to someone else.
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