The Law Society and Land Registry have published a new practice note on joint ownership.
The practice note covers the introduction of Form JO by Land Registry and the desirability of recording the intentions of the owners at the time of acquisition especially where the parties are purchasing the property in unequal shares.
Land Registry introduced Form JO following Baroness Hale's comments in Stack v Dowden.
Form JO is intended to make it easier for conveyancers to arrange for joint purchasers to make a declaration of trust within the short timescales between exchange of contracts and completion in conveyancing transactions.
Conveyancers can also use Form JO in circumstances where they do not wish to let a transfer signed by the seller leave their possession.
Read the practice note