Joint tenants vs tenants in common ?

[Johnson897210]

Son is buying a house and moving in with g/f after a couple of years renting together. Question is they have unequal deposits and want to protect themselves should the worst happen, i.e. ensure things are split fairly in the worst case. Not a likely scenario hopefully but you never know so worth putting in some planning. As I understand it as JT they could document any funds put in initially to protect them in the event of a sale but would share equally on any gains. TiC obviously would protect their % share but future gains would also be split accordingly, i.e. 70-30 say if that's the decided ownership split.

Over to the wisdom of PH, appreciate there will be arguments both ways and useful to be aware of any curveballs.

Have posted in Homes, but apologies if it is one for the legal forum, mods feel free to move accordingly.

Thanks

[tomsugden]

Are they going to split the future mortgage repayments in the same proportion as their deposits?

[kiethton]

When I first moved in with my then GF, now wife, we went tenants in common then had a deed of trust written which detailed equity contributions and equity splits.

Ours was to take the equity, deduct initial deposit then split all equity in proportion to payments made into a joint account from which all "house" bills (mortgage, utilities etc) were paid.

[dickymint]

Be very mindful that with tenants in common there is no automatic right of survivorship whereas with joint tenants all goes to the survivor and not the deceased estate.
A very very close friend and neighbour of mine (who sadly died last year) looks like he's being 'stitched up' by this - he died intestate going to his grave thinking that his daughter would get all of his estate.....she will but not a penny of the £450000 that their house has just sold for. I sincerely hope I'm wrong but after 16 months there is still no record of Probate online