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'Beware' of joint house purchase.

FIRST-TIME house buyers in Coventry and Warwickshire opting for joint ownership with friends and colleagues could find themselves open to a minefield of legal problems.

The warning from a Coventry law firm has been prompted by a rise in the number of graduates and workers entering into joint mortgage agreements in a bid to get on the property ladder.

Conveyancing experts at Button & Co solicitors in Manor Road, city centre, say people should ensure they draw up precautionary legal measures, such as a trust deed, in case the partnership breaks down.

Nick Button, senior partner, said: "The general assumption of joint ownership is that it's a straightforward affair where the house is owned equally, but that's not always the case.

"We would advise anyone considering a joint mortgage to make sure they get the appropriate legal documents drawn up."
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Publication:Coventry Evening Telegraph (England)
Date:Nov 20, 2006
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