* where there are two or more purchasers, they can acquire the property either jointly and for the survivor (Option 1) or in specified shares (Option 2).
Under Option 1, the purchasers have no specific share in the property. They can jointly sell it, but, if they do not, then on the
death of each purchaser, the property will automatically vest in the survivors and ultimately in the last survivor. That last survivor
will be able to leave the property in a will (subject to the laws of Guernsey) or alternatively if he/she dies without making a will,
the property will go to those people entitled to it under Guernsey Law.
This option will normally be used by married couples and sometimes by cohabitees.
Option 2, allows a purchaser to retain a specific share in the property e.g. (i) to leave by will to a child from a previous marriage;
(ii) to reflect his/her investment in the property in the event of cohabitees separating or co-owners dissolving a partnership. A
purchaser will be able to:- (1) sell his/her share to a third party;(2) apply for a judicial auction of the whole property; and (3)
leave it by will (subject to the laws of Guernsey).
This option will normally be used by cohabitees or by partners in a commercial venture.
NB - this only briefly sets out the position. Other alternatives may be available. If you have any queries or concerns as to
which option to take, their ramifications and possible alternatives, please make an appointment with us to discuss them.
Do you wish to attend at the offices of the Island Development Committe to establish information concerning (I) permissions
granted in respect of the property, (II) The zoning of the property, (III) The zoning of the adjoining properties and (IV) The use
class of the property?
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