Property jointly owned by non married joint owners

Property jointly owned by non married joint owners

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If 2 people not married own a property as joint tenants (not tenants in common) could someone confirm that

1. Income can be split in whatever % they want so long as it reflects what they actually receive in fact.

2. On the sale of the property sale proceeds and capital gains have to be calculated on a 50:50 basis?

Thank you

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By JimH
03rd Mar 2015 10:29

joint property tax - unmarried

Yes, to 1. as usefully discussed in a previous thread.

Yes, to 2. as they have equal share of beneficial ownership over the whole.

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