Joint ownership

If you are purchasing the property with someone else, you should be aware that there are two ways in which more than one person can own land - the terms used are joint tenants and tenants in common.

The distinction is crucial on the death of one of the owners.  Where land is owned as joint tenants and one dies, the deceased’s share in the land passes automatically to the survivor.

When a tenant in common dies such share passes by will or intestacy.  In other words, the share can be left to the other tenant in common or to someone else.

You need to decide how you wish to own the property and let us know.  If you decide to own it as tenants in common, it is essential that you both make wills to stipulate who will inherit your shares in the property.