Wills & Trusts Law Reports | Spring 2023 #190In 2007, the claimant gave her father (Ray) a sum of £150,000. The payment was a contribution towards a house (the property) that Ray intended to purchase with his wife, the first defendant.
The claimant alleged an agreement by which, in exchange for the payment of £150,000, Ray would leave his half-share of the property to the claimant and her brother.
The purchase of the property was completed using a TP1 transfer form. The form was signed by the third-party transferor and the box was ticked providing for the transferees, Ray and the first defendant, to hold the property ...
Fiona Debney examines a case that demonstrates the pitfalls of not taking legal advice before purchasing property ‘A significant amount of the judgment focuses on the other issue of joint tenants versus tenants in common, particularly in view of the fact that the TR1 disclosed within the proceedings was incomplete.’ The case of Insol Funding …
Continue reading "Trusts And Cohabitation: Clarifying contribution"
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