Joint Tenants and Tenants in Common are two distinct ways of owning a property jointly with someone else. Whether you purchase, inherit, or become a trustee for the property in question, you must decide which kind of ownership you wish to have. This information should be conveyed to HM Land Registry when registering the property.

Joint ownership

The type of joint ownership you choose will be important in terms of what can happen with the property if your relationship with a joint owner fails, or if one of the owners passes away.

Joint tenants

As joint tenants (sometimes called beneficial joint tenants), this is what happens:

• you have equal rights to the whole property
• the property automatically goes to the other owners if you die
• you cannot pass on your ownership of the property in your will

Tenants in common

As tenants in common:

• you can own different shares of the property
• the property does not automatically go to the other owners if you die
• you can pass on your share of the property in your will

Change your type of ownership

You can change from being either:

• Joint tenants to tenants in common, for example if you get a divorce or separation and want to leave your share of the property to someone else

• Tenants in common to joint tenants, for example, if you get married and want to have equal rights to the whole property

For more information visit the Government website here

It is important to note that Joint Tenancy and Tenancy in Common are not mutually exclusive; you can own property under both statuses at the same time. You should always be aware of your rights as a joint owner, no matter what kind of ownership you have.

It may be beneficial to seek legal advice from someone knowledgeable in property law if you are uncertain about how to structure your ownership. This could help ensure that your rights and interests are protected in the future.

When it comes to joint ownership of property, understanding the difference between Joint Tenants and Tenants in Common is essential. Knowing your rights and responsibilities, as well as the legal implications of each type of ownership, will help you make informed decisions about how to structure your joint ownership of a property.  It is always wise to seek legal advice when dealing with matters related to joint property ownership. This will help ensure that your rights and interests are protected.

If you need more details or have any questions seek advice from a solicitor. However, if you are looking to do a joint mortgage application with a partner, family member or friend, contact us today on 0151 662 0188 or email [email protected]