Understanding Property Ownership in England and Wales: Joint Tenants vs Tenants in Common

Understanding Property Ownership in England and Wales: Joint Tenants vs Tenants in Common

When you buy property with someone else in England and Wales, one of the first decisions you’ll face is how you want to legally own it. This choice—between joint tenants and tenants in common—can have a lasting impact on what happens to your share of the property if you pass away, and how you plan your estate.

Joint Tenants

With joint tenancy, both owners are treated as owning the whole property together. There are no separate shares, and you each have equal rights to the entire home. The most significant feature is the right of survivorship: if one of you dies, the property automatically passes to the surviving owner, regardless of what any will might say. This arrangement is especially common for married couples or civil partners who want the property to go directly to the other person.

Tenants in Common

If you choose to be tenants in common, each person owns a defined share of the property. These shares can be equal or reflect different contributions. There’s no right of survivorship, so if you die, your share will pass according to your will or, if you don’t have one, under the rules of intestacy. This option offers flexibility, allowing you to leave your share to anyone you choose, such as children from a previous relationship. It’s often chosen by unmarried couples, friends, or family members who have contributed unequally.

Key Differences at a Glance

• Ownership: Joint tenants each own 100% together; tenants in common have specific shares.

• Inheritance: With joint tenants, the survivor automatically inherits; with tenants in common, your share goes according to your will.

• Selling: Joint tenants must agree to sell; tenants in common can sell their own share.

Changing Ownership Type

If you start as joint tenants but later want to own as tenants in common, you can “sever the joint tenancy.” This can be done without the other owner’s consent, but you must follow the correct legal steps.

If you opt for tenants in common, it’s wise to make a will so you can decide who inherits your share. This helps avoid uncertainty and ensures your wishes are followed.

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Disclaimer: This blog post provides general information for educational purposes only. It is not legal advice. Outcomes can vary based on your personal circumstances.