Trust Deeds

As an unmarried couple, if you intend on buying a property in joint names, you will need to decide whether you wish to hold the beneficial title as Joint Tenants or Tenants in Common. If the property is owned as Joint Tenants, the presumption is that you both own the property in equal shares. If the property is owned as Tenants in Common, your respective shares in the property will depend on what you agree, and document, in the Purchase Deed.   

Having a Trust Deed is an effective way of clarifying ownership of a property, and is generally considered to be conclusive evidence as to ownership. However, after the Supreme Court ruling in Jones v Kernott  (2011), it is best to update the Trust Deed regularly to meet changing intentions. The Trust Deed can also deal with such matters like how you will divide the cost of paying the mortgage, the property repairs, the property maintenance etc.

You may also wish to consider having a Living Together Agreement, otherwise known as a Cohabitation Agreement. This agreement can set out arrangements which will apply while you are living together as well as agreements that will apply in the event of the relationship ending.