{"id":1043,"date":"2016-10-15T16:45:04","date_gmt":"2016-10-15T16:45:04","guid":{"rendered":"http:\/\/justycja.co.uk\/legal\/?p=1043"},"modified":"2016-10-15T16:45:04","modified_gmt":"2016-10-15T16:45:04","slug":"a-brief-overview-of-property-law-terminology-in-england-and-wales-with-a-polish-twist-vol-2","status":"publish","type":"post","link":"http:\/\/www.justycja.co.uk\/legal\/a-brief-overview-of-property-law-terminology-in-england-and-wales-with-a-polish-twist-vol-2\/","title":{"rendered":"A brief overview of property law terminology in England and Wales (with a Polish twist) &#8211; Vol. 2"},"content":{"rendered":"<p><strong>Author:\u00a0Marta Grzelak, Partner\u00a0at McHale &amp; Co Solicitors<\/strong>* (<a href=\"http:\/\/mchaleandco.co.uk\/\">see website<\/a>).<br \/>\n*McHale &amp; Co Solicitors do not provide legal advice in regards to properties in Scotland<br \/>\n&nbsp;<br \/>\n&nbsp;<br \/>\n<span style=\"font-family: Calibri; font-size: medium;\">There are two types of property-share ownership in England: <\/span><br \/>\n<span style=\"font-family: Calibri; font-size: medium;\">a) <strong>Beneficial joint tenants<\/strong> (the whole property belongs to both owners as one) <\/span><br \/>\n<span style=\"font-family: Calibri; font-size: medium;\">b) <strong>Tenants in common<\/strong> (joint ownership as reflected in shares). Shares can be either: <\/span><\/p>\n<ul>\n<li><span style=\"font-family: Calibri; font-size: medium;\">Equal (50\/50) <\/span><\/li>\n<li><span style=\"font-family: Calibri; font-size: medium;\">Unequal (with the split agreed by the parties individually)<\/span><\/li>\n<\/ul>\n<p>&nbsp;<br \/>\n<span style=\"font-family: Calibri; font-size: medium;\">\u2018Joint tenants\u2019 means that the property belongs as a whole to all of its owners. If one of them dies, the Right of Survivorship applies \u2013 the power to acquire the whole property. This is why this method of ownership is especially recommended to married couples as well as persons in a long-term relationship and who in the event of death would like to empower their spouse or partner to own the whole property. If the parties would like to transfer their share in a will, for instance when they have children from a previous relationship, then <\/span><b><span style=\"font-family: Calibri; font-size: medium;\">\u2018<\/span><\/b><span style=\"font-family: Calibri; font-size: medium;\">Tenancy in Common\u2019 will be necessary. <\/span><br \/>\n<span style=\"font-family: Calibri; font-size: medium;\">In \u2018joint tenancy\u2019, the owners have the same rights to the property regardless of their respective contribution at the point of its purchase. Thus, if A and B buy a property using this method of ownership and A has contributed 90% of its price, while B paid only 10% of the said price, any subsequent division of assets will result in B\u2019s being entitled to half of the property value. However, if the parties wish to determine shares in line with their respective contributions from the beginning, \u2018Tenancy in Common\u2019 will be required.<\/span><br \/>\n<span style=\"font-family: Calibri; font-size: medium;\">\u2018Tenancy in Common\u2019 is suitable for business partners and in other cases where parties do not wish to be subjected to the Right of Survivorship, e.g. when they have not lived together for very long or have not been in a relationship for a long time, or they wish to protect their share, in the event of death, for the benefit of other people, or when they want to determine their share in the property according to their level of contribution at the point of its purchase. <\/span><br \/>\n<span style=\"font-family: Calibri; font-size: medium;\">The distinguishing feature of \u2018Tenancy in Common\u2019 is determining the distinct division of shares between the property owners. Such division will be reflected and contained within a transfer deed. <\/span><br \/>\n<span style=\"font-family: Calibri; font-size: medium;\">Every type of property ownership owing to its characteristic features has its own advantages and disadvantages. In different circumstances different forms of ownership will be optimal. Therefore, it is not surprising that most people facing the dilemma of choosing the right title to their property seek the advice of a solicitor. The complexities surrounding English property law are hard to grasp even after a perusal of specialist literature. A real understanding of the subject requires practical experience and on-going exposure to these problems.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Author:\u00a0Marta Grzelak, Partner\u00a0at McHale &amp; Co Solicitors* (see website). *McHale &amp; Co Solicitors do not provide legal advice in regards to properties in Scotland &nbsp; &nbsp; There are two types of property-share ownership in England: a) Beneficial joint tenants (the whole property belongs to both owners as one) b) Tenants in common (joint ownership as [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":386,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_locale":"en_US","_original_post":"1043","footnotes":""},"categories":[2],"tags":[],"class_list":["post-1043","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized","en-US"],"acf":[],"_links":{"self":[{"href":"http:\/\/www.justycja.co.uk\/legal\/wp-json\/wp\/v2\/posts\/1043","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/www.justycja.co.uk\/legal\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.justycja.co.uk\/legal\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.justycja.co.uk\/legal\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"http:\/\/www.justycja.co.uk\/legal\/wp-json\/wp\/v2\/comments?post=1043"}],"version-history":[{"count":0,"href":"http:\/\/www.justycja.co.uk\/legal\/wp-json\/wp\/v2\/posts\/1043\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/www.justycja.co.uk\/legal\/wp-json\/"}],"wp:attachment":[{"href":"http:\/\/www.justycja.co.uk\/legal\/wp-json\/wp\/v2\/media?parent=1043"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.justycja.co.uk\/legal\/wp-json\/wp\/v2\/categories?post=1043"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.justycja.co.uk\/legal\/wp-json\/wp\/v2\/tags?post=1043"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}