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When do use the term "buy out"? (2 Posts)
Started By:
18 May, 2017 09:28PM
When do use the term "buy out"?
xhikarux - 18 May, 2017 09:28PM
I don't know much about legal, but when do I use the term buy out? Does it only apply if I have a joint share of the house with current husband I.e. My name is also on the property?

Or does that apply too if my name is not on it
Re: When do use the term "buy out"?
davidterry - 19 May, 2017 10:58AM
A person can have an interest in a property without being on the title deeds. For instance if A owns a property and says (in writing) 'I hold the property in trust for B' then it is B who has the beneficial interest in the property. This is but one of many ways in which a person not on the title deeds may have an interest.

So long as you are clear about what you are proposing it really does not much matter what label you put upon it. It is the substance that matters and being clear about what is meant.
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