It is also possible that a single person holds a legal estate on trust for himself and another/others. When the beneficiary of the trust is in occupation of the property, his interest in the registered property shall bind the buyer as an overriding interest under S 3 of the Land Registration Act 2002.
If the property is an unregistered land, and the beneficiary is in occupation his interest shall be binding under the doctrine of notice. Thus, it makes sense for the buyer to check the legal status of the occupier. In case of a doubt, the buyer can always ask a second trustee to be appointed to ensure that the trust is overreached and seek in writing from the occupier that he will leave the property on completion.
Photo courtesy: ChicagoGeek
Also read:
Shared ownership: Land Registry Practice and Severance of Joint Tenancy
Co-ownership of Property: Joint Tenancy and Tenancy in Common
Shared ownership: Sale of Property by a Sole Surviving Co-Owner
