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Talk to me about tenancy in common with your partner

1 reply

houseargh · 10/04/2022 13:10

In the process of buying first property with my soon to be husband. I'm putting in approximately 70% of the deposit and our plan is to be tenants in common with the initial breakdown of ownership to reflect our contributions to the deposit, but we'd like the ownership percentages to change over time to reflect the fact that we'll both be contributing equally to the mortgage. What is the most straightforward / cost effective way of doing this? And generally I'd be interested to hear what others in a similar financial setup have done. Obviously the hope is we stay happily married forever and ever (and we will have a will each naming the other as our benefactor) but we would also like the ownership of the house to reflect what we have put in... just in case...

OP posts:
MinnieMountain · 10/04/2022 15:51

A declaration of trust. Your conveyancer can draft it for you. It normally costs a bit extra but definitely worth it to set things out clearly.

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