The Law Society and Land Registry have today published a joint Practice Note in relation to joint property ownership.
A new Land Registry form (Form JO) will provide an effective way for conveyancers to record clients’ intentions.
The form and note follow recent court decisions which highlighted the need for joint home buyers to properly define and record their respective interests in the property.
Jonathan Smithers, Chairman of the Law Society’s Conveyancing and Land Law Committee, said: "I am pleased that the Law Society and Land Registry have worked together to provide detailed and up to date advice to solicitors practising in what is a complicated area of the law.
“The note will direct solicitors to the practical implications of statements made in recent cases so that their clients can continue to receive the best advice possible."
Alasdair Lewis, Director of Legal Services at Land Registry said: “In addition to our collaboration on the joint Practice Note, Land Registry has recently introduced a new voluntary form as an alternative means for joint owners to declare their interests, or to provide details of an existing separate declaration of trust, at the time when they acquire the property.”