Joint property ownership
Owning joint property
Whether you just bought your first home with your partner or whether you've inherited property together with other beneficiaries, it is important that you understand the rules of joint property ownership. Our solicitors are here to assist you.
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Joint property explained
Joint tenants (also known as beneficial joint tenants):
- Equal share in the ownership of the property.
- Commonly used by couples buying together.
- If one party dies, the property will automatically be given to the other joint tenant.
- Transferring ownership to someone else in your will is not possible.
Tenants in common
- Suitable if different shares of the property are needed, but can also be used for equal shares
- Suitable if the property is purchased by more than two people.
- If one party dies, the property will not automatically be given to the other owner.
- Each owner can pass on their share of the property to beneficiaries of their choice under their will.
Why should I consider legal assistance when it comes to joint property?
Not only can we help you with advice on how to buy a joint property, we can also help with the following situations:
- Changing ownership in case of a divorce or separation
- Changing from tenants in common to joint tenants.
We can also help you with more complex situations; such as if a joint owner lost mental capacity and you as the other owner are unable to make an important decision about the property. In this case, we can assist you with applying to the for permission to continue with your decision.
Costs of legal advice
At Slater and Gordon, we want to avoid hidden fees and unexpected costs. That's why we will provide you with a fixed quote before starting our services. That way, you know exactly what you'll be paying and what services you'll receive. Our fees only change if your instructions do.
Slater and Gordon were very professional and calm throughout the process, especially in the final week leading to exchange and completion, coming up with sensible solutions to prevent my buyer's solicitor from delaying the process any further. I cannot recommend them enough. Mr B (residential conveyancing case)
I am very pleased with the service I have received. I had a complicated chain between different towns both buying and selling. Excellent communication skills and keen to go extra mile to provide you with the best of her ability. The completion happened within timescale promised. Anonymous (residential conveyancing case
We've just moved into our new home. The Manchester branch couldn't have been more helpful, patient or kind. Really quick to get back to us and thoroughly explained everything to make sure we could understand it. I would highly recommend Mrs D, Manchester (residential conveyancing case)