 Hello everyone, I'm Jose Delgado. I'm a corporate commercial attorney and today we're going to be addressing or canvassing a query that comes up quite regularly around I'm acquiring a property with my spouse or with my partner or with a sibling or family member or friend What type of structure do I use? How do I buy this property? And what we find is the default position is most people just acquire property in their own names which results in untold misery There's a fallout, the relationship doesn't work out or there's a non-contribution towards funding or there's a death So let's look at the options that are available to you Most people as we said will buy the property in their names with their respective partners, no agreement So worst case, if you do do that, make sure that you have an agreement in place that will regulate contributions toward bond payments If you have any maintenance costs, how you address the running of the property, what happens with the income, how do we split it What happens if somebody passes, do we take out a policy to have funds available to exit the deceased partner, that type of thing But that is your worst case if you already have acquired a property in your name and you can't do anything about it and you cannot restructure it If you do have the luxury of time, you should do some planning beforehand And then the options available to you are to acquire it either into a partnership of trust A single trust where all the different parties are involved, setting out your percentages, your roles, your responsibilities, your obligations Or worst case, a CC or a PDI limited that is then owned by trust and again regulated by an agreement And again to ensure that everybody understands and all the roles, obligations, rights of the various parties are recorded in the various agreements that underpin either the trust or the close cooperation of the company