WEBB & COMPANY JOINT PURCHASERS' TENURE PURCHASERS: PROPERTY: ‘OUR REI afore completing the fins document relating to Your Join purshate af the above property jon need to provide your writen Insrveions 2 o wheter the property owned by you a ter Benfica lat Tenants or a8 Tenants in Convnon in Ely, The Importance cence ese tro mas of ewnlag property impertaat. AS BENEFICIAL JOINT TENANTS you wou ec ld ideal legal iter in the whole ofthe peopety. On asale any Transfer ‘Dect would hae tobe signed by both of you in order tab sald. The money arising from the sal ofthe property mould be pat hth aoe sem, Inthe event of the death of on6 oF you, the survivor would he the ae owner ofthe whol ofthe property std would eee to receve te ere proceds ifthe property asso. AS TENANTS IN COMMON IN EQUITY you wuld both sl be legal owners ofthe property and both of yu woul Be needed 0 ‘gn ded oF Transer before the property could e soi. However the sake proveeds would be deed Deora you a the propation thatthe sae proceeds shouldbe shared in arate corresponding to yar contribu the death of eter of ya the surinor could not sl the property witout appointing anater ce-iruiee. The proceeds ofthe ‘ale would be dsided between you ad the personal epresentaie ofthe deceased co-awner in the proportions orginally ageeed atthe tine of purchase. The interes ofthe deceased perv does ut pass automatically on death lor her share wll pas under the terms ‘of bis or her Wil ors the abeace of « Wil according to dhe rules which apply on intestacy. The intestacy rues are very rigid and ‘eerie cortmon misconception ss thet eet. Inthe event of any dapat arising atte the respsive Financial interes of joint tenants i » propery (outside of any procedings bvowgh under the divorce lopiaton) a Cours una to sake any change jl tenaney declaration under whieh it presumed cach owner hasan aia share the et vale af the property (i current valu es the amount outstanding ony morte) or the mt proceeds oF the sale af the property (Le afer repayment of any morigager and the deduetion ofthe Estate Agent Sate ‘Comvalson at the legal casts on these). Under the divorce Heatin, the Cours retain we power to make such prepertyadjetments a8 they may tink prope in the iecormtanees “Therefore “+ ifthe contributions oa purchase pice are being provided by the Buyers in unequal shareor + Han sabueqent sl, te parce would expect the proceds of hat ale oe distibeted tween ther in une +H there are any reasons why one or more athe partes would ot wast the surior t 4+ Cathie partys making contribution wo the purchase price or towards, sy, an improvement the property (erancy ia comin shoud orl be selected! aud iastrations given a the respective a inte apps then decurances that the owners v0 es anor any other particular hous historically, hesband and wife may kaye osen lo hol a property as jlat teas, extraneous factory tke & previous ‘marriage or atonrhip and the positon of any cikrch of such a marviage or relatenship) or taxation ead, ete may’ wal render {Wis nappreprate, Where sich factors ext eo-omnes should consider holding the property tenants ia commncn. ‘The lntroductin of Cis Pertseesips also an iss that may need care considraton. hore tenancy tn eommon ic be created ad woey I beleg proved in unequal sarc Is wise for corners eter nto separate Declaration of Trust sealtanccusly wih the completion of thir purchase. Indeed, the Court of Appeal has recently wggestod that this eught fo be done in sach eases. Ths deciments shou record he shares which the jit owners wil! hol be exelabte ‘stein the property (et value). Ft al portant for Wills to be made mths pols ia re deli th the co-owners shaves inthe property, Iason, Declaration of Trust euKl cover he iusto arising the Ftureif one of the ce-ownes wished t sell and the other) wished t real the property, pousbleastdng an option to purine each athe shares. Finally x provision could ‘oe inclde wallow wsucvining co-owner to vein the propery for sons ase or se wishes todos,When thee neue are being considered ou shoul ake inte account factors sich at your pereanl circumstances and 35 loom and capital tees are concerned i ‘coment of any psteta 88 planning advantage that might be gxinnd tn comples ‘ass spect ndeendent za and accountancy advice may be necessary or adviable, Marri coupl wualy parcase a Hosea Join Teaaete, Were the purehitery are nt rsd fa Connon «lier ta equal share or Inthe proporons wich ihey purchase price ten purehace as Joint Tem asualycerrsponcing thelr coniebutiens to he ” he Travefr Deed cannot properly be prepare (or esters at HM Land Reise tlt you Reve decided how you wih tw eld the property. Wen you have carefully conered your options please ick oe ofthe tee bes If appropriate to Hada the proportions in which yu wih eho the property sgn and retarathe foram, fa a | eneticia Joint Tenants WW Tenants in Common in EQUAL. shares (ie, if two owners, 50% and $0%) u ‘Tenants in Common in UNEQUAL shares andthe shares areas below: u for MriMirs Miss for MMM A for MriMrvMis. Signed Dated siccssniicint