Join a community, not a client list.
Boutique London Lawyer
Get in touch today
Call us on 07855 849232 or
email david.gordon@dg-law.co.uk
Conveyancing – Joint Tenancy
Thinking of Joint Tenancy with a Partner or Spouse?
If you are thinking of a joint tenancy with a partner or spouse, you need to understand the risks involved.
There are two main types of co-ownership: a joint-tenancy and a tenancy in common. Both tenancies serve different purposes. It is important therefore, that you enter an arrangement that is right for you and your partner or spouse.
Joint-Tenancy
In a joint-tenancy both parties are owners of the whole property. They do not own a particular share in the property. In order for a joint-tenancy to exist, both owners have an equal right to own the whole property. They are also equally jointly liable for the property. In addition, they need to obtain their legal ownership from the same document at the same time.
Inheritance Tax
Joint-tenants benefit from survivorship – what happens to the property shares if one of the couple dies. Where one co-owner dies, estate ownership is automatically transferred to the survivor – the living co-owner. This also means that no inheritance tax will need to be paid.
Tenancy in Common
In a tenancy in common, each owner holds a particular share in the property. The amount each owns often reflects the initial contributions towards the purchase price. In order for this type of co-ownership to subsist, each must have the right to make use of the whole property.
Tenants in common are treated as individuals. The concept of survivorship does not apply in the event of death. Instead their share will be transferred to those named in their will or through the intestacy rules, leaving the other tenant legally unaffected.
If you are thinking of a joint-tenancy, please give us a call for informal advice. One of our property solicitors will help you decide which option best suits you and your partner or spouse. SG
Make An Enquiry
Call us now on 07855 849232 or complete our Online Enquiry and we will be delighted to talk with you about your legal matter.
Share Article With:
Make An Enquiry
Blog Categories
Client Reviews
DG Law were fantastic throughout our purchase process. We had a short, fixed, timeline to
DG Law supported us through a very difficult contractual negotiation to achieve exactly the outcome
We were very pleased with the way that DG Law helped us on our transaction
DG Law resolved a difficult lease renewal for us and their services were excellent –
I needed understanding and experienced legal advice. DG Law provided an excellent service at a
My experience was second to none – the service was professional and personal. DG Law
DG Law always step up to the plate on our transactions and handle the various
DG Law was recommended to me and my partner and I received excellent advice –
Having worked with DG Law a number/couple of times now, I have been really impressed
DG Law were constantly at hand, and kept pro-active throughout the thorny process of getting
DG Law came recommended to me and whilst setting up a new business it was
We were recommended three lawyers to handle the sale of our seven year old successful
Why Choose Us?
We live by our core values of transparency, flexibility and being honourable – every day
We put ourselves in your shoes so we understand your problems from the inside out
We deliver our advice in a way that is easy to understand