Who Legally Owns a Life Tenancy Property?
With such a unique form of property investments, you may wonder who legally owns a Life Tenancy Property?
With a Life Tenancy property it is the investor, whether that is an individual, or another form of legal entity, who will be the legal registered owner of the property. The ownership will be registered at the UK land registry upon completion of the sale.
The Lifetime tenant’s agreement will also be registered at the same time. So both parties’ rights are recorded simultaneously at completion. Once these rights have been registered they cannot be changed until the Life Tenant either dies or goes into long term care, the investor on the other hand is free to sell the ownership of the property, not withstanding that the Life Tenant rights remain unchanged as they are registered against the proper