Tenants in Common

Tenants in Common is a different way of owning your house, most couples buy their first house together and opt to own it Jointly, this is fine until they write their wills, when, in most cases, it’s better to own the house as Tenants in Common.

Tenants in Common effectively puts a dotted line down the middle of the equity in a property clearly defining that one share belongs to one person and the other share belongs to the other person. between 2 and 4 people can own a property as Tenants in Common.

The main advantage is that each person can control their share of the property in their Will, this usually involves leaving their share in trust for the children whilst allowing the surviving owner to live in or use the property for the rest of their lives.

Tenants in Common is a complicated situationa dn if you have any doubt at all, please call us so that we can explain it further.

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