There are two ways you can jointly own property in England and Wales:
The way you own the property can have huge implications for your future so it is vital that you own it in the right way.
This way, neither of you owns an identifiable share of the property. You collectively own the whole thing – essentially you hold it in trust for yourselves. This means that when one of you dies, the property automatically passes to the survivor. It does not matter whether or not the deceased co-owner had a Will.
By owning this way, you each own an identifiable share of the property. Unless you have stated otherwise, this will be 50% each for 2 owners, 1/3rd each for 3 owners, etc.
You are each free to use your share in any way you want. You can give it away during your lifetime, or can leave it to someone in your Will. Owning as Tenants in Common, the property will not automatically pass to the surviving owner(s) so it is vital that you each have a Will.
You MUST own the property as Tenants in Common if:
If you don’t know, the chances are you own as joint tenants. However, we can easily check this for you. All we need is to see your title deeds.
It is very simple to change from joint tenants to tenants in common. We would be happy to prepare the necessary paperwork and register the change at HM Land Registry on your behalf.
We would be happy to prepare the deed necessary to do this and can provide an estimate of costs on application.
If we are already carrying out other work for you, we only charge a nominal amount. Otherwise, we will provide you with a fair estimate of costs, depending on your circumstances.
If you would like to discuss this further, we would be happy to meet with you and discuss your particular needs and circumstances in more detail. We aim to provide a quality service that is personal to you and your circumstances. We have a dedicated team who have expert knowledge and who will be there every step of the way to help you face life’s challenges.
We are determined to put service ahead of everything when it comes to helping you move home or purchase property and that is why we specifically limit the number of transactions that our lawyers handle.
This means that your home move is always a priority for us, we will keep you updated, and all aspects of the transaction are completed correctly.
If you would like to speak to one of our conveyancers, or receive a quote for conveyancing services.
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