Finally, you have come up with a way to buy a house! After much thought you have decided to buy with a friend, the loan is agreed, and you\u2019ve found the property.<\/p>\n
So everything is great, why should you worry?<\/p>\n
When buying with the friend it is essential that you not only make a Will, but also that you come to a formal legal agreement to allow for the following:
\n\u2022\tExactly what shares you each have in the property (as it is likely that the amounts you each put in may be different).
\n\u2022\tHow any profits would be divided on any future sale.
\n\u2022\tAllow for a formula to buy each other out, should one of you want out.
\n\u2022\tDecide how the bills etc are to be split.
\n\u2022\tWhat will happen on the death of one of you.
\n\u2022\tIf funds are coming from various sources, how these are to be paid back.<\/p>\n
These are just some of the things that MUST go into a formal declaration which should be signed by all the buyers. Such agreements will prevent lengthy (and costs) legal arguments later! <\/p>\n
So if you are about to buy with a friend, or you are a parent helping a child buy. Give me a call.<\/p>\n","protected":false},"excerpt":{"rendered":"
Finally, you have come up with a way to buy a house! After much thought you have decided to buy with a friend, the loan is agreed, and you\u2019ve found the property. So everything is great, why should you worry? When buying with the friend it is essential that you not only make a Will, […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-565","post","type-post","status-publish","format-standard","hentry","category-blog"],"yoast_head":"\n