ABSTRACT
Ownership of the family home This topic is considered under two headings – fi rstly, where the legal estate is in the name of one party, and secondly, where there are joint legal owners.
The legal estate to the home is in the name of one party only Example of the problem: In 2005, Jane and Tom decided to live together. They bought a dilapidated cottage for £90,000, which was conveyed into Tom’s name alone, although the purchase money was derived as to £30,000 from Tom, £20,000 from Jane and the remaining £40,000 on a mortgage in Tom’s name. Jane and Tom have both worked, contributing equally to overheads and living expenses. Tom is a keen DIY enthusiast and has done a lot of renovation work on the cottage. Jane has helped with the decorating and gardening. Tom and Jane have now decided to separate and Tom has received an offer of £400,000 for the cottage.
