Attaining Sole Ownership Of A Property

Many unmarried couples, and many married couples, jointly own property. If you partner passes away
or you and your partner divorce or separate you may wish to become the sole owner of a property.
Sometimes this is simple but sometimes it is difficult and a legal battle ensues. If you are a
co-owner of a property you cannot sell the property or part of the property without getting
consent from the other co-owner or co-owners. 

There are two types of joint ownership - beneficial joint tenancy and tenancy in common. If you
own your property as beneficial joint tenants all the decisions regarding the property, e.g.
sale, must be made by all co-owners. The property will automatically be left to the surviving
co-owner or co-owners if one of the owners passes away. In contrast, when you own property as
tenants in common you have the right to sell your share in the property and leave your share in
the property to an individual of your choosing as outlined in your Will. 

If you are seeking sole ownership of a property you should contact a solicitor. Whether the
agreement is simple or a legal battle it is important you have a solicitor involved so all the
paperwork is done to the correct standard. The only situation in which you may not need to
contact a solicitor is if there is one co-owner in a joint tenancy and they pass away. In this
case the property will automatically be transferred into your sole ownership. You must, however,
remember to send a copy of the co-owner's death certificate to the Land Registry as they will
need to update the documentation linked to the house so it is now solely your name on the title
deeds. If you feel confident doing this alone you can do this without instructing a property
lawyer. If you are confused in any way about how to correctly transfer a property into your name
you should consult a specialist property lawyer. 

In the case that you divorce your partner you will need to come to an agreement about the
property. You may be able to do this amiably, or you may not, depending on the circumstances in
which your relationship has broken down. The most common way to deal with gaining sole ownership
of a property following a divorce is to sell your share of the property to your partner or buy
your partner out of the property. Alternatively many couples agree to jointly sell the property,
split the profits and go their own separate ways.

It is advisable you deal with the legalities of your mutual property rapidly, so you do not have
to continue having any responsibility for the property in the eyes of the law if you no longer
want it and you can bring all aspects of your separation to a mutually accepted conclusion.
Contact a specialist property solicitor today if you need any legal advice regarding property
ownership and property rights.----------------------------------------------------
Need Birmingham Solicitors http://www.lawfirminbirmingham.co.uk/
Roskell Davies are specialist conveyancing solicitors Birmingham.
http://www.lawfirminbirmingham.co.uk/conveyancing-solicitors-birmingham/

Posted by J Randall Frier

Bouncing Back From Bad Debt

Good credit is essentially important. A person's credit score can affect many essential aspects of
life, such as renting or owning a place to live, finding a job, running a business, and making
important purchases. Having a heavy debt load can also cause stress, especially when creditors
persistently call and send letters. Insolvency practitioners can help you find a solution, such
as determining whether you qualify for bankruptcy, and if this is the best solution to get you
back on track.

One of the first steps to achieving good credit is to know what your credit report says. You can
receive one free credit report from all three agencies each year, but it is advisable to check
your report more often. How much your reports are checked are one factor that affect your score
(with more checking lowering your score) but you can sign up for a service that allows you to
check your score without affecting it. 

When you check your credit report, carefully review it. If you find any charges that you do not
believe that you owe, some may be disputed. Even if you pay off bad debts, some may stay on your
report for up to 7 years. Recent activity carries more weight than past activity. Credit
counselling may be an option if you believe that you may still be able to repay your debts. If
you realize that you cannot pay back your debts, you may wish to consult an attorney about your
options. Although bankruptcy seems like a drastic option to many people, for some, it is a fresh
start. In some cases, a person's credit score may actually improve after bankruptcy.

Debt recovery is a process that takes time, and it is more about consistency than a task that
can be accomplished overnight. Make a habit to live within your means, and have savings in case
of emergencies. You want to use credit to build a good history, but you want to make sure that
you use it responsibly. Even one late payment can negatively impact your score, and you want to
make sure that you pay off all debts in a timely manner. Try to pay off your credit cards every
month and not carry a balance. This helps avoid interest, and it is also better for your credit
score. Consistent habits over time are the key to rebuilding your credit score.
----------------------------------------------------
John Greyson is one of the most knowledgeable guys in town, he knows everything you need to learn
about business and law. Stay tuned for more of his practical tips and legal advices about debt
recovery, visit http://www.redchip.com.au/services/debt-recovery/ .

Posted by Randy Frier