What Is the Best Way to Legally Buy a House with Another Person? 

When buying a property with someone else, the legal structure you choose is just as important as the property itself. Most co-buyers in England and Wales opt for one of two ownership structures: Joint Tenants or Tenants in Common. Understanding the difference is vital for protecting your investment and ensuring your wishes are legally enforceable. 

1. Joint Tenants: equal ownership 

Joint Tenants means both parties own the property equally as a single legal entity, regardless of how much each person contributed to the deposit or mortgage. 

• Right of Survivorship – this is the key feature. If one owner passes away, their share automatically transfers to the other owner, regardless of what’s written in their Will. 

• Who is it for? – often the preferred choice for married couples or civil partners who view their finances as entirely shared. 

2. Tenants in Common: defined shares 

Tenants in Common allows for separate, distinct ownership shares. There’s no right of survivorship, instead, your share forms part of your estate and passes according to your Will. 

• Reflecting contributions – shares can be split to reflect unequal contributions, such as a 70/30 or 60/40 split. 

• Who is it for? – usually recommended for friends, siblings, or unmarried couples who want their specific financial stake recognised and protected. 

For unmarried couples, understanding how to safeguard your individual contributions is especially important, see our guide on protecting your deposit if you break up with your partner. 

3. The role of a Declaration of Trust 

If you choose Tenants in Common, especially with different deposit amounts, a Declaration of Trust is strongly recommended. This document has become a standard tool for: 

• Recording exactly who owns what percentage of the equity 

• Setting out how proceeds will be divided if the property is sold 

• Defining what happens if one person wants to leave or be bought out 

• Clarifying responsibilities for mortgage payments and maintenance costs 

4. Why you need a Will 

If you opt for Tenants in Common, having a valid Will is essential. Because your share doesn’t automatically pass to the other owner, a Will ensures your portion goes to your chosen beneficiaries rather than being subject to intestacy rules. 

Final Thoughts 

Choosing the right ownership structure depends on your circumstances, financial contributions, and long-term plans. Our conveyancing team at Setfords can advise on the best legal structure for your situation and prepare a bespoke Declaration of Trust to protect both buyers’ interests from day one. 

Buying with someone else? Get your free conveyancing quote today. 

What you can expect with Setfords

More time, more attention: With no targets, Setfords lawyers can dedicate more time to you.

Ultimate flexibility: Our lawyers can tailor their schedules to meet your needs.

Nationwide coverage: with hundreds of consultant lawyers across the UK, we’ll connect you with the right expert.

Dedicated specialist legal partner: work directly with your chosen lawyer from start to finish.

Highly experienced: Setfords lawyers have an average of 20 years’ experience, so you can be assured you’re in safe hands.

Capacity-based allocation: our lawyers never take on more work than they can handle, so you get the focus and attention you deserve.

Get a Quote