Investing in bricks and mortar together? Get it in writing says Mark Warwick
* * * * * *
In these uncertain times, if the funds are available, there is much to be said for parties investing in bricks and mortar. Where two or more persons purchase property in their joint names there are cogent reasons why they should set out in writing their intentions regarding their interests in that property. A recent appellate decision, Chopra v Bindra (2009) EWCA Civ 203, [2009] All ER (D) 219 (Mar) shows that, if parties do execute a document recording their intentions, then the courts will strive to give effect to this document, even if the language deployed appears to contravene some settled rule of property law.
Recording interests
The importance of parties recording their agreement as to their interests in jointly owned property in documentary form is best understood by considering the position if they do not do so. At present the state of the law, where there is no trust deed regarding jointly owned property, is
.tmb-mov69x69.jpg?sfvrsn=77dbbdb7_1)
.tmb-mov69x69.jpg?sfvrsn=b3bea7f_1)
