There may be instances where the ownership of a property is shared between a couple of people which then become known as tenants in common. As there are a few people involved things can become a little complicated. If the owner that remains is not paying any money to those who are leaving, they will most likely have to sign a policy which is known as a ‘Statutory Declaration as to Equitable Title’. Whilst this states that they are the sole recipients of the property's equity, it also states that they are entirely responsible for paying off the rest of the mortgage.