Tenants in common
Tenants in common
Jul 24, 2013
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weekand.com
In the UK, if you buy property as joint tenants, when one owner dies, their share automatically passes to the other owner. Your children do NOT inherit that share even if you wrote a Will. But if you buy as tenants in common, each person owns a defined share, and that share can be left to your children through a Will. How you buy property determines who benefits when you’re gone. Joint Tenancy Both owners own the whole property together On death → ownership automatically passes to the surviving
2:30
In the UK, if you buy property as joint tenants, when one owner dies, their share automatically passes to the other owner. Your children do NOT inherit that share even if you wrote a Will. But if you buy as tenants in common, each person owns a defined share, and that share can be left to your children through a Will. How you buy property determines who benefits when you’re gone. Joint Tenancy Both owners own the whole property together On death → ownership automatically passes to the surviving
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