Equity and trusts: Pay the price
The law governing the imposition of trusts of land has grown as the number of unmarried, cohabiting couples has increased and the cost of housing has risen sharply. Often, unmarried couples buy a house 'together' with no clear intention as to how ownership should be divided in the event of their breaking up. Before the introduction of the current form of TR1, there was no box to tick for a declaration of trust. Also, research suggests that most cohabiting couples believe that they become 'common-law spouses' after a period of time.
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