Proving title to half of the boat

[Bru]

See posts #16 and 18.

I have! they are correct for co-ownership, the OP has already mentioned that he and his partners are joint owners

 

[AntarcticPilot]

Is the situation analogous to home ownership? Because for homes, if you are joint owners, the property automatically passes to the survivors on the death of one party. Same with joint bank accounts. I have recent experience of this; we bought houses for myself and my wife and for my two daughters. Of course, as husband and wife, the appropriate arrangement for us was joint ownership, but my daughters had a harder choice to make.

 

[Bru]

Is the situation analogous to home ownership? Because for homes, if you are joint owners, the property automatically passes to the survivors on the death of one party. Same with joint bank accounts. .

it's not analogous, it's the same

 

[bedouin]

Is the situation analogous to home ownership? Because for homes, if you are joint owners, the property automatically passes to the survivors on the death of one party. Same with joint bank accounts. I have recent experience of this; we bought houses for myself and my wife and for my two daughters. Of course, as husband and wife, the appropriate arrangement for us was joint ownership, but my daughters had a harder choice to make.

In fact there are very similar issues in home ownership - you can be Joint tenants or Tenants in Common.

 

[AntarcticPilot]

In fact there are very similar issues in home ownership - you can be Joint tenants or Tenants in Common.

Thanks - I'd forgotten the exact terminology. Let me make sure I've got this right: Joint tenants - survivor takes all and the property can only be sold by consent of all tenants; Tenants in Common - the shares are separate and can be disposed of individually without the consent of other tenants, with the shares simply treated as part of the estate of deceased tenants, to be disposed as their will (or intestacy rules) dictates.

 

[bedouin]

Thanks - I'd forgotten the exact terminology. Let me make sure I've got this right: Joint tenants - survivor takes all and the property can only be sold by consent of all tenants; Tenants in Common - the shares are separate and can be disposed of individually without the consent of other tenants, with the shares simply treated as part of the estate of deceased tenants, to be disposed as their will (or intestacy rules) dictates.

That's about right.

There was a fashion a few years ago for married couples to declare themselves as Tennants in common to help with IHT planning, but I think the rules have changed since then so it is no longer necessary.

 

[Slow_boat]

Swmbo threw her toys out of the plan when I unthinkingly registered our boat in my sole name. I pointed out that the bill of sale proves her interest. Then changed the SSR to both names for the sake of a quiet life.