Should property be held in peoples names as joint tennants or tennants in common?

 

A good example for purchasing property as tennants in common would be a couple buying a house when both have children from previous marriages. Quite often people wish their half share of a property to go to their own children as well as wishing their spouse or partner to be looked after during their lifetime.  This would be a perfect example where the propoerty should be owned as tenants in common in equal shares (50/50) and deal with their half share of their property in their Will.

 

In a joint tennant situation a couple would buy real estate as joint tenants. This would mean that upon the passing of one person the surviving person would inherit the entire asset.

 

If getting the right advice is important to you contact us.

 

“Liability limited by a scheme approved under professional standards legislation”