Cohabitation: Different ways of owning a property
Your Step by Step Guide
There are two ways of owning a property. Firstly there is the legal title (this being the person(s) named on the title deeds) and secondly there is the beneficial ownership (this being the entitlement to the equity in the property). It does not necessary follow that the legal and beneficial ownership will be the same. A beneficial interest can even exist if you are not named on the title to the property and the legal owner can hold the property on trust for you and/or himself.
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