Alpha, Beta, Gamma, Delta and Epsilon have now noticed the conveyance and the term it contains: "to Alpha, Beta, Gamma, Delta and Epsilon as joint tenants in equity". They wish to effect a change so that the students each have a measurable interest in the property, as they intend, when their degrees are over, to sell the property and divide up the price so each can pursue their own careers with the funds. They therefore seek advice as to how this may be done. In the meantime, however, Delta and Epsilon have formed a relationship and have made mutual wills in which each leaves their share of the property to the other.

 

Advise on how the ownership interests can be restructured, both at law and in equity, based on the above facts?