Hi. A question regarding the SEV Form A Restriction in the case of severing a Joint Tenancy to Tenancy in Common for a property. Firstly does anyone know if this change presumes ownership of shares becomes equal to each share owner? I understand that making this change can be made without the other parties consent. However, if it does not include a relavant and recent declaraion of trust, is ownership assumed as equal, regardless of any historic Deeds of Trust that may exist. In our case, we have a Deed of Trust, but having discover the property is registered as Joint Tenants, we have been informed that the Deed of Trust may be invalid. And that a new one must be agreed consensually along with the change to Tenants in Common? It all seems a bit vague. Any advice appreciated.
SEV Form A restriction process. Who owns what share?
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Originally posted by EnglandPi View PostThe share percentage should be stated as it's not always 50-50 but without further detail I can add nothing more.
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The SEV A form only allows the Land Registry to register the change in legal ownership.
This does not mean automatically the Beneficial ownership is changed to 50/50.
If there is no declaration of trust the court will make an Order based on fairness (Jones v Kernott [2010] EWCA Civ 578 )
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Originally posted by des8 View PostThe SEV A form only allows the Land Registry to register the change in legal ownership.
This does not mean automatically the Beneficial ownership is changed to 50/50.
If there is no declaration of trust the court will make an Order based on fairness (Jones v Kernott [2010] EWCA Civ 578 )
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