Just good friends! Joint tenancies - what you need to know
Just good friends! Joint tenancies - what you need to know
17th August 2006
Although it is the most common form of tenancy, few landlords and even fewer tenants appreciate the problems and complications that can arise when a group of friends choose to share a property, writes
Tony Booth
.
Most only think about the advantages of contributing toward the rent burden, but few consider or are even aware of the legal obligations to each other.
And that is fine while the relationship between them is harmonious; but when things go pear-shaped, they are rarely prepared for the consequences.
Definition
A joint-tenancy does not exist simply because two or more individuals are named on the same tenancy agreement. Four principle conditions of coalition must be satisfied:
To view the rest of this article - and thousands like it - become a PRO member today...
To read this article you need to be a Property Secrets PRO member. In addition to thousands of searchable articles on UK and worldwide property investment, your PRO membership will give you full access to over £600 worth of eBooks and Spreadsheet Software, advice-packed blogs from leading property experts and our busy Property Forums - where you can talk to hundreds of investors just like you.
If you aren't currently a PRO member, then you can sign up using the form below now. At only £7.99 a month (first 14 days FREE) or £79.99 per year (that's TWO MONTHS FREE), it will prove exceptional value for money. Remember, our range of eBooks and Spreadsheet Software is worth over £600 and with a new article every day, there's always something to come back for.
Today's property market means it is vital to have full and unlimited access to the best information available to make intelligent and profitable decisions.
To find out more about the benefits of a Property Secrets PRO membership, click here...
If you are already a PRO member of Property Secrets, sign in at the top of the page.
Call Property Secrets on: +44 (0)1270 539550