maintenance or decoration which may be needed. Crucially, the agreement would detail what will happen if the relationship ends. Will one party be allowed to buy the other out or will the property be sold? If the property is to be sold, what will happen regarding any loans or gifts, and once everything is repaid, how will any remaining money be shared? Such an agreement would be even more important where one party does not have the necessary housing qualifications to own the property but will be jointly responsible for the mortgage. The most important feature of such an agreement is that it records what the parties actually intend to happen; there is no sense in having an agreement that the parties will share all the costs of owning a property if that is never what will actually transpire.


Purchasing a property, particularly for the first time, is an exciting and happy prospect. It can be tempting to avoid thinking about the terms of financial assistance from parents or other family members. It can be tempting to avoid thinking about what will happen if your relationship (or marriage) does not succeed. However, thinking about these issues and recording what has been agreed, means that, hopefully, there is less chance of confusion and disagreements in the future.


25 years legal experience in personal & business law.


bus iness legal


litigation • commercial pe r sonal legal


personal injury • property law • wills & estates • employment law


livingstones


1st Floor, La Mielle Chambers, 18 Sand Street, St Helier, Jersey JE2 3QF Tel: +44 (0)1534 747037


Email: info@livingstones.je • Web: www.livingstones.je 20/20 The Finance Centre Page 85


Page 1  |  Page 2  |  Page 3  |  Page 4  |  Page 5  |  Page 6  |  Page 7  |  Page 8  |  Page 9  |  Page 10  |  Page 11  |  Page 12  |  Page 13  |  Page 14  |  Page 15  |  Page 16  |  Page 17  |  Page 18  |  Page 19  |  Page 20  |  Page 21  |  Page 22  |  Page 23  |  Page 24  |  Page 25  |  Page 26  |  Page 27  |  Page 28  |  Page 29  |  Page 30  |  Page 31  |  Page 32  |  Page 33  |  Page 34  |  Page 35  |  Page 36  |  Page 37  |  Page 38  |  Page 39  |  Page 40  |  Page 41  |  Page 42  |  Page 43  |  Page 44  |  Page 45  |  Page 46  |  Page 47  |  Page 48  |  Page 49  |  Page 50  |  Page 51  |  Page 52  |  Page 53  |  Page 54  |  Page 55  |  Page 56  |  Page 57  |  Page 58  |  Page 59  |  Page 60  |  Page 61  |  Page 62  |  Page 63  |  Page 64  |  Page 65  |  Page 66  |  Page 67  |  Page 68  |  Page 69  |  Page 70  |  Page 71  |  Page 72  |  Page 73  |  Page 74  |  Page 75  |  Page 76  |  Page 77  |  Page 78  |  Page 79  |  Page 80  |  Page 81  |  Page 82  |  Page 83  |  Page 84  |  Page 85  |  Page 86  |  Page 87  |  Page 88  |  Page 89  |  Page 90  |  Page 91  |  Page 92  |  Page 93  |  Page 94  |  Page 95  |  Page 96  |  Page 97  |  Page 98  |  Page 99  |  Page 100  |  Page 101  |  Page 102  |  Page 103  |  Page 104  |  Page 105  |  Page 106  |  Page 107  |  Page 108  |  Page 109  |  Page 110  |  Page 111  |  Page 112  |  Page 113  |  Page 114  |  Page 115  |  Page 116