Tenancy for life and divorce
If you are living in a house which is to be left to you in part ownership with another person, then be aware that if the other person subsequently heads for the divorce courts this could have an effect on your financial situation, not to mention rendering you potentially homeless.
To ensure that you can continue living in the property should this circumstance arise, ask for a “tenancy for life” clause to be inserted into the current owner’s Will. This means that in the future, even if the other person divorces, any claim made on the property by their ex spouse will be considered invalid.
It is not recommended that you buy the other person’s share of the property for a pre-arranged small sum if they are heading towards divorce. The court would realise why the transaction had taken place and consider it unfair, most likely invalidating the property transfer and taking the property into account during divorce proceedings.