An unmarried couple (not in a civil partnership) purchased a house together, but only the woman provided the purchase money. There is no clear agreement regarding the equitable interest in the house.
Which of the following statements is correct?
An unmarried couple (not in a civil partnership) purchased a house together, but only the woman provided the purchase money. There is no clear agreement regarding the equitable interest in the house.
Which of the following statements is correct?
There is a presumption that the equitable interest is held jointly and equally by the man and the woman.
(B) It is presumed that a property's equitable interest is held jointly and equally by both parties when the legal title is registered in the name of both the man and the woman. In such cases, they hold the legal title as joint tenants. If there is no explicit declaration about the equitable interest, it is presumed that the equitable interests are joint and equal, just like the joint interests. However, this presumption can be challenged if a party can prove that both parties intended otherwise.
Option (A) is incorrect because the contribution made by only one party to the purchase price is irrelevant, as the key factor in determining the interests is the joint conveyance of the property.
Option (C) is also wrong because when a house is conveyed into the joint names of the parties, both of them own the legal interest jointly and equally. As a result, it is presumed that the equitable interest is also held jointly and equally.
Option (D) is incorrect because the parties' failure to declare how the equitable interest is held does not render the purchase of the house unenforceable.
Option (E) is also mistaken because the presumption that the equitable interest is held jointly and equally is rebuttable and not conclusive.