Purchase of property for jointly names

This discussion clarifies the ownership ratio when purchasing property jointly. It advises checking the purchase deed for explicit mention of share ratios. If not specified, the default assumption is a 50:50 split. The conversation also touches upon the distinction between 'cash in hand' and 'capital' in balance sheets, clarifying that 'cash in hand' is a current asset and 'capital variance' is not a standard accounting term.