Campions are Property, Divorce, Wills Solicitors based in Pride Park in Derby and with a Head Office at Mansfield Road, Nottingham. This blog is prepared by Campions to highlight one facet of property law. That is that there are two aspects of property ownership. The first is the legal ownership. Put simply whose name is on the Title.
The second is what is referred to in the title to this blog. That is the beneficial or equitable interest in the property. The individual or individuals who own the beneficial interest either singly or together will be the true owners of the property. In the vast majority of cases there is no real distinction between the owners of the legal and equitable ownership. Owners if joint will have the legal ownership. They will also have, unless an agreement to the contrary, the equitable ownership in equal shares. However there are cases where there may be joint legal owners but only one has the equitable ownership. Or cases where there is one owner holding in trust for another.
In these cases the real owner will be the equitable owner. This can have important implications for a variety of issues. One such issue is SDLT.
For advice on any of these issues contact firstname.lastname@example.org.