Property can provide much more than just a roof over your head - it can also be an excellent investment for you, your family, and your business. But it’s becoming increasingly expensive, and for some first-time buyers the only way to bring it within reach is to pool resources and buy jointly with a friend or partner.

Joint ownership will also appeal to many couples and business partners as a practical way of sharing in a property’s costs and upside potential. But beware, it has its risks.

Disputes are always best settled by negotiation and compromise, but there are times when you will have no alternative but to take your opponent to court.

And litigation, as we all know, can be an expensive business, so go into it with your eyes open! Understand what risks you run of having to pay the other side’s costs as well as your own if you lose, and of having to pay at least a proportion of your own costs even if you win.

This article is important to you if you are about to lend money to (or do business with) someone who says “don’t worry, I’m good for it, I own a valuable house.” Or perhaps you have a claim against a recalcitrant debtor and have finally managed to take judgment so you can sell the debtor’s house. Maybe you, or a friend or relative, live in a house threatened with sale in execution. The “owned by a trust” angle (more on that in the article) could also be relevant to you if you are wondering whether to put a residential property into your own name or into a trust (or perhaps a company).

We discuss, with reference to a recent Supreme Court of Appeal decision, why taking judgment against a debtor doesn’t automatically clear you to sell it in execution. Even if the house is owned by a trust or a company.

“Landlords grow rich in their sleep” (John Stuart Mill)

Earning passive income as a landlord is an attractive proposition which can generate substantial wealth, but before you rush into anything be sure to know exactly what you are doing. “From homeowner to landlord: how to make it work” on Tech4Law shares six important steps on ensuring that you get the most out of your new venture.

We’ll add a seventh (critical) step – the earlier on in the process you ask your lawyer for advice, the better. No one is better placed to explain the legalities, to make sure you have all the right paperwork, to help you maximise the benefits, and to protect you from the risks.