THE BEST WAY TO ACQUIRE PROPERTY AS HUSBAND AND WIFE

 

 

THE BEST WAY TO ACQUIRE PROPERTY AS HUSBAND AND WIFE

During marriage, it is not uncommon for husband and wife to agree to jointly acquire property for use or to reside in as their matrimonial home throughout their lifetime. In recent times, the concept of marriage has assumed different meaning in different societies. But for the purpose of this essay, marriage is a legal contract by which a man and woman become husband and wife, and in obedience to divine injunction, agree to co-exist as one forever. In reality, many unions do not actually last forever because they crumble even for the flimsiest of excuses. The high esteem in which people viewed marriage institution is gradually fading away, although, nobody goes into marriage with intention to fall apart, yet they actually do fall apart.

The Cause(s)

 The learned sir Emeka Chianu traced this unfortunate situation to the persistence of westernization through modern communication and information technology.  This post is not set out to discuss why marriages break down but to explore and ascertain the rights of the parties to their joint property when the marriages breakdown irretrievably. In the event that the marriage falls apart, the questions arise, how then should properties acquired by the couple be shared? To answer this question, one will need to examine the manner of purchase and the ownership description on the face of title document. The court often presume that property bought through a joint effort of husband and wife as jointly owned.

Meaning of Joint Ownership

Joint property is a kind of property held by two or more person, in this case, husband and wife. Joint ownership gives both parties equal right to the property as such none of them can individually dispose or transfer the said property without the consent of the other. In principle, each of them can transfer their right to a third party. However, by the incident of joint ownership, once one of the owners dies, the property automatically goes to the surviving owner. He/she then becomes the sole owner.

In the event of dispute, joint property may be terminated by any of the following ways:

• The parties may voluntarily decide to partition the property with each person having   a portion.
• The parties may also agree to sell the property and share the proceeds.
• One of the parties who wishes to retain the property may offer to pay off the other party so that he/she can retain ownership.

These measures look pretty straight forward, but at times, they are not, because in some circumstances, the man may intentionally or inadvertently allow only his name (for instance, Mr. Augustine Solomon) to be used in the title Deed although both parties contributed toward the purchase. Other times, the appellation Mr. and Mrs. Augustine Solomon is used to depict joint ownerships. In both circumstances, the ownership is uncertain. Notwithstanding, the man is unlikely to succeed in court against his wife to claim sole ownership especially where the woman is wise enough to keep accurate records of all her contributions towards the purchase or improvement of the property. This can be in form of bank transfer record detailing purpose of transfer or receipts showing the woman’s name. It is apt to point out that the title ‘Mr.’ or ‘Mrs.’ is of no legal consequence. The Court merely regard them as means for social interaction in a civilized society. 

 Proper Description of Joint Ownership

Therefore, it is safer for parties when buying joint properties (whether real or personal), to specifically spell out the full names of all individual contributors. Example is set forth; the Deed should bear “Mr. Augustine Solomon and Mrs. Sarah Solomon both of No. 2 Siluko Road, Benin City (the Transferees/Assignees) of first part” and not ‘Mr and Mrs. Augustine Solomon of No. 2 Siluko Road, Benin City (the Transferees/Assignees) of first part” in reality, the former and the latter do not mean the same thing. While the former, represent two natural persons depicted as husband and wife. The former, is an improper attempt to convey same idea, besides, any woman can claim to be the ‘Mrs. Solomon’ and such person will not be ‘Sarah’. Again, in some circumstances, their child/ren may also contribute toward making the purchase. In that case, their name (s) should also reflect in the title deed.

Where the man already purchased the property in his name before marrying the woman, then the woman should be prudent enough to keep records of her contribution towards improving the property. If she fails, the man can give out the property to anybody in his Will or during disputes, the woman may be asked to vacate the man’s property notwithstanding her major contributions. A lee way for the woman’s safety, is for her to romantically persuade the man to add her name to major legal documents, same goes for the man. Alternatively, the man may buy property in the name of his wife vice versa. In such a case, the court will presume it was given to her (or him) as a gift.  All these are necessary precautions to avoid losing out eventually.

 

• The Content in this article is intended to provide general information on the subject matter. Professional advice should be sought about the reader’s specific circumstances. 

Nosakhare Okuonghae

Legal practitioner/Legal Information Professional

Nosakhareokuonsofficial@gmail.com

09156497843