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Sharing Ownership?


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We've just bought a static caravan on a great site however the van is only in one of our names. All the documentation is signed for and owned by one individual yet three of us have all paid up an equal share. This is worrying for a couple of reasons, the sole owner on paper is worried that any site fees or gas/electric/rates will automatically be expected from them, and similarly  if there were any issues that individual could sell the van and profit (not that they would) or if a death occurred those that had contributed could not pass on their portion of the van. 

 

Is there a way of splitting the ownership on paper, is this something the site can help with? Or can we draw up our own contract that is legally binding to demonstrate in a court of law that the van is equally owned by three responsible parties?

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33 minutes ago, StaticTuck said:

Is there a way of splitting the ownership on paper,

 

Frankly I don't know, so anything I said would only be an opinion.   However, on the site where I go to spend my Spanish winters, there are many bungalows, all privately owned.   One of the rules is that there is no sub-letting.   Only the listed owners may be residents.   You may meet a similar rule on your site.

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https://jondogoescaravanning.com

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Isn't this something that you maybe should have sorted out at the time?

There are two aspects to a static (and park home) - the static itself, which is owned outright, and the pitch it is on, which is owned by the park.

So yes, the park will expect the sole named person on the contract to be responsible for paying all the pitch fees, utilities supplied by the park, etc.

It should be perfectly possible to draw up a contract to show that three of you own the static itself, and if it is sold then the money has to be split three ways - but you will need to ask the park owner to re-issue the contract if you want to make sure that the right to use the pitch, and the responsibility of the fees, is three way liable.

Even if the park agrees to this, you can expect that it will be done in such a way that the three of you will be jointly and severally liable, meaning that the park owner can chase all of just one of you for the fees. So if one/two of you does not pay up, the other two/one will have to pay the lot.

And as Jaydug says, it may be that anyone not named on the contract is not even allowed to stay on site.

Best speak to the park owner ASAP.

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