JoLeon

The question here really is can the couple hold the property as joint tenants or it has to be tenants in common?

Thank you. Am I correct in assuming that the property can be owned as joint tenants; a declaration of trust and form 17 can be then used for unequal beneficial interest?

I have a couple of questions, if someone could clarify please? 1. To use form 17 for allocating unequal shares for a jointly owned property (Husband and Wife) should the title deed be registered as TENANTS IN COMMON rather than JOINT TENANTS with land registry. I am referring to the below articles which I found on the net. Most married couples or civil partners own property as joint tenants. If this is the case you will need to sever your joint tenancy and register as tenants in common instead. Joint tenants can only split their beneficial interest equally (50/50) https://www.parachutelaw.co.uk/news/property/hmrc-form-17 Husband and wife (or civil partners) should check that they jointly own the property as ‘tenants in common’. A form 17 election cannot be made (i.e. the property income cannot be split other than in equal shares) if the couple own the property as ‘joint tenants’. https://www.taxinsider.co.uk/joint-property-and-form-17-practical-points#:~:text=Husband%20and%20wife%20(or%20civil,property%20as%20'joint%20tenants'. A form 17 election cannot be made (i.e. the property income cannot be split other than in equal shares) if the couple own the property as ‘joint tenants’. https://peterjarman.com/community/exploring-joint-ownership-joint-tenant-vs-tenants-in-common/ 2. If the property is solely owned by the spouse, do we need to register the trust to allocate rental income to the other half or just a deed of trust be enough? Please advise on the correct way of doing this. Thank you in advance.