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What documentation is required?

| Guidance | October 16, 2012

yours2share strongly recommends that any sharing agreement is recorded in writing and that all sharers take professional independent legal advice before signing any sharing agreement. This is standard practice for purchase of real property and is also essential for the purchase of other high value assets.

Fractional ownership or joint ownership of property

  • If you are buying real property, the actual transfer must be done through solicitors. That is the law. But the deed of trust and sharing agreement documents you can buy here will deal with all the arrangements between you.
  • The Land Registry only records the first four names in any document to be registered. So if you want more than four people to own together, your sharing agreement must also contain trust provisions to safeguard the property owning rights of the sharers whose names are not registered. Or you could consider setting up a company or partnership to own the property.
  • Even if all sharers can be listed as owners, it may be best not to set out the details of your deal in what could be a public document. Instead, use a sharing agreement. This will include every aspect of your sharing arrangements. Some of the issues you may wish to include are explained in these pages:

    If you are living in a property at the same time, either constantly or occasionally, then you need a tenants co-habitation agreement which regulates the day-to-day use, occupation and running of the property.

If you are living in a property at the same time, either constantly or occasionally, then you need a owners co-habitation agreement which regulates the day-to-day use, occupation and running of the property.

Fractional rental of property

Joint ownership of chattels

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