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I currently own a property with my ex partner and am considering offering to take on the rest of the mortgage debt in exchange for having a bigger payout from the sale eventually when it is sold.
Currently the property is a joint tenancy, which by my understanding means that regardless of what we've paid, before or after separation, the property is still at a 50:50 split when sold.
I'm wondering if its possible to keep a tenancy as joint, whereby the right of survivorship still stands, but the amount that is owned at sale could be altered in favour of one person over the other? Is it possibly legally to make an agreement between ourselves for this and have it written up, or would a joint tenancy, or would it always be a 50:50 split?
Is there something better/more suitable for this?
Many thanks
Currently the property is a joint tenancy, which by my understanding means that regardless of what we've paid, before or after separation, the property is still at a 50:50 split when sold.
I'm wondering if its possible to keep a tenancy as joint, whereby the right of survivorship still stands, but the amount that is owned at sale could be altered in favour of one person over the other? Is it possibly legally to make an agreement between ourselves for this and have it written up, or would a joint tenancy, or would it always be a 50:50 split?
Is there something better/more suitable for this?
Many thanks
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