What is shared ownership?
Shared ownership, also known as Co-ownership and equity sharing, involves the sharing of a single property between multiple owners. This may also result from various types Home Ownership scheme including equity loans (such as Help to Buy), or leasehold schemes.
At the end of the agreed period Co-owners usually have a number of options, including an extension of the existing agreement, selling the property and splitting the equity, or one owner buying the other parties share.
Shared Equity/Ownership Transactions
Before entering into a shared equity agreement, individuals should be aware of the benefits and pitfalls of related schemes, including the difference between shared equity and shared ownership. Speak to our conveyancing experts for more information.
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