Property ownership - divided share vs undivided & other questions re shared ownership

**Liz1** · 14-May-12, 10:07 AM

Originally Posted by Dave A

How exactly is the property owned?

Specifically, does each partner's name appear on the title deed?

Hi DaveA, yes each partner is named on the title deed.

**Liz1** · 14-May-12, 10:09 AM

And it explicitly states that each partner is a 50% shareholder, but it doesn't mentioned the words "undivided share" or "divided share". It just states 50% share. There is no sole use clause or anything of that nature.

**Dave A** · 14-May-12, 11:41 AM

What had me asking was it's probably critical to establish exactly which laws are applicable to your situation.

Originally Posted by Liz1

And it explicitly states that each partner is a 50% shareholder, but it doesn't mentioned the words "undivided share" or "divided share". It just states 50% share. There is no sole use clause or anything of that nature.

I take it the property is registered as a shareblock on the title deed then, but the ownership entity is an incorporated partnership?

The one thought that occured when reading your first post was based on what you were saying, it seems any change in ownership would require a change in the title deed - which could give the non-selling partner some leverage perhaps.

I'll say this - the buyer's desire to establish a shareholders' agreement is probably a very good idea.