The following Private Client Q&A Produced in partnership with Chris Bryden of 4 King’s Bench Walk provides comprehensive and up to date legal information covering:
The beneficial ownership of a property can be held by two (or more) people as either joint tenants or tenants in common. Where the equity is held as tenants in common each person has a defined share, whereas equitable joint tenants own the property per muy et per tout—ie each owns the indivisible whole.
Parties who hold as tenants in common can leave their interest to anyone; the interest of a joint tenant will be extinguished by survivorship on death, and the remaining joint tenant or tenants will continue to own the whole with no need for a transfer of the beneficial interest. The legal ownership of the property will always be as joint tenants, with the legal owners holding the property on trust beneficially for the equitable owners in the relevant proportions.
A deputy is appointed by the Court of Protection to enable the management of the affairs of a person who lacks capacity to make decisions for themselves. There are two types of deputy: a health and welfare deputy and a fi
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On 29 August 2015, the Prudential Regulation Authority (PRA) published the PRA Rulebook (Rulebook). The transition from the Handbook to the Rulebook was intended to benefit PRA-authorised firms, to access clearer and more concise rules. Alongside the Rulebook, supervisory statements and statements
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There may be times when, rather than assigning the benefit of an agreement to a third party, the original parties wish instead to end their obligations to each other under that agreement and, in effect, recreate it, with the third party stepping into the shoes of one of the original parties. This is
The Standard Conditions of Sale (SCS), currently in their 5th edition (2018 revision), are a set of standard conditions which are commonly incorporated into contracts for the sale of residential property. The Standard Commercial Property Conditions (Third Edition—2018 Revision) (SCPC) are used for
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