What Are The Different Ways To Own A Property?

As joint tenants, the property owners:

• have equal rights to the whole property;
• on the death of one property owner, their share will automatically pass to the surviving owner or owners and will not form part of the deceased’s estate.

As tenants in common, the property owners:

• can own different shares of the property;
• on the death of a property owner, their share will not automatically pass to the surviving owners;
• their share will form part of the deceased’s estate and can pass under the terms of their will or, if there is no will, under the intestacy rules.

More information is available in the By Lawyers Purchase of Land guide.