I am buying a half share of my friend's home. She has a mortgage which she intends to pay off - so the house will be freehold. I will pay her the money when my term deposit comes up. How do we change the title?
Looked online for info on Property title transfer but no real answer to my question.
Hi Welcome to JustAnswer. My first response will follow shortly. Please feel free to follow up if anything is not clear
I have found info online about being tenants in common and having a co-ownership agreement. How do we do this and does it include change of title?
I posted a reply-did this not come through? I said that the change is done when the share is transferred to you and achieved quite simply by adding the words "as tenants in common in equal shares" to the documents.
As for the property agreements, this depends on whether you are in a relationship, or this is an investment-which is it here?
No I did not get your original reply... it simply said you would post it shortly.
How is the share transferred to me and what documents are you referring to?
We are not in a relationship - we are old friends. She wants to become financially independent by paying off her mortgage and I am looking for a home base when I am in NZ (I travel overseas 6 months of the year).
* a piece missed out "the transfer be to both of you as tenants in common in equal shares"
LLB MMgt FAMINZ 32 years qualified as lawyer
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