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SEV Form A restriction process. Who owns what share?

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  • SEV Form A restriction process. Who owns what share?

    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.
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  • #2
    The 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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    • #3
      Originally posted by EnglandPi View Post
      The share percentage should be stated as it's not always 50-50 but without further detail I can add nothing more.
      Here's the confusion for me. Any one of the Joint Tenants can use the Form A restriction without the consent of the other Joint Tenant(s), and force the Tenants in Common situation. And if Joint Tenants are, I assume always equally owning the property? So if the SEV is used is it the case that each would then become equal shareholders of the ownership. Unless agreed otherwise between themselves - meaning they would also add a Covenant or Deed of Trust to the Land Registration? Basically i'm asking can one Joint Tenant independently use this process to give themselves a larger share?

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      • #4
        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 )

        Comment


        • #5
          Originally posted by des8 View Post
          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 )
          Ok so my in my scenario my ex (long term partner, not husband) is saying that due to the fact that the property is listed as a Joint Tenancy, this invalidates the original Deed of Trust we created with a solicitor on purchase, which describes the arrangement as Tenants in Common. He says that as Joint Tenants we are equal owners regardless of the original amounts spent on the cash purchase. In this case I paid 80 percent of the puchase price and he paid 20 percent. He adds that his reasoning for expecting it now be a 50:50 split is that we occupied the property together for over a decade. Which included him doing what he describes as a massive amount of work on the property and gardens. As well as paying his share of bills etc. My question was based on that if I were to severe the Joint Tenancy, would that enable the original Deed to be respected.

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