Protecting Property Interests

You may have an interest in a property in any number of ways. The interest may be freehold or leasehold. Your name may appear on the title (deeds) to the property or it may not and you may be entitled to all, some or none of the proceeds of sale.

In basic terms the law divides interest in properties into two categories – the legal estate and the beneficial interest. The legal estate equates to the name on the title deeds and the beneficial interest is the right to sale proceeds.

If you do not own the legal estate then you can still acquire or be entitled to a beneficial interest in a number of ways, the most common being by contributing to the purchase or improvement of the property. If you do not own the legal estate but have contributed to the purchase or improvement of the property or if joint owners of the legal estate have contributed in different amounts then the beneficial interest can, and needs, to be protected.

There can be any number of reasons to protect your position – for yourself, for those you wish to benefit following your death, so far as the Inland Revenue are concerned and in relation too to the payment of residential and nursing care under Community Care legislation.

Your position may be affected by any number of other factors:

• Do you occupy the property?
• Are you married to somebody else with an interest in the property?
• Do you propose registering a Civil Partnership?

This can be a complicated area and we can help you to clarify your position and protect your interests.

To discuss how we can help you please email Nick Scott or call us on 01908 692769.