When a property is bought jointly, the way it is owned can feel like a small legal detail. For many people, it is something agreed at the point of purchase and then rarely thought about again.
But the difference between owning as joint tenants and tenants in common can have a significant effect later. It can determine what happens to the property on death, how much control each owner has over their share and how the property fits into wider tax and succession planning.
For couples with straightforward wishes, joint ownership can provide simplicity. For families with more complex circumstances, unequal contributions or a desire to control where value ultimately passes, a different structure may be more appropriate.
The important point is that the ownership structure should reflect what you actually want to happen, rather than simply being left as the default chosen when the property was purchased.
Our latest Private Client Insights guide explains the difference between joint tenants and tenants in common and highlights some of the tax, succession and practical issues worth considering.
If you own property jointly, or your family circumstances have changed since you bought it, download our Tenants in Common vs Joint Tenants guide.
Download your free guide by clicking here.
All data and figures referred to in our news section are correct at the date of publishing and should not be relied upon as still current.
