Alan Pink considers a not uncommon situation where family property is owned in different proportions to their desire.
The following scenario is one which is not uncommon for professionals to find existing in practice, particularly amongst certain cultures. The family (which may be two or three or even more generations) basically considers that it holds a property (or a property portfolio) in common for the family’s general benefit and use. However, when you look at the land registry, the owners are commonly one family member only, or at least not all of them. The simplest example of this is where a married couple consider that they own a property between them, but it is registered in only one name. Nevertheless, it is very often the case that these properties are put into a set of accounts which is drawn up along ‘partnership’ lines; that is, the property is shown in the balance sheet (if
