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Call: Stoke-on-Trent (01782) 639716  or 0800 072 5510   ... for a fast, professional, and friendly service and money-saving advice

 

Convenient Wills, 16 Thomas Avenue, Newcastle-under-Lyme, Staffordshire  ST5 9AF                                                                                                                                    Proprietor: Rod Jones

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Convenient Wills

•  home-visit will-writing service  •

•  bespoke wills at ‘value for money’ prices •

•  daytime and evening appointments  •

Call: 0800 072 5510 or

Stoke-on-Trent (01782) 639716  

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What is ...   Tenants In Common?

 

Property can be legally owned by a single person, or jointly by two or more people - as joint tenants.

 

However it is possible to sever the ‘joint tenancy’ and create a beneficial interest in the property for each owner; this type of ownership is known as ‘Tenants in Common’ or ‘TIC’ for short. This is known as an ‘equitable’ interest in the property.

 

The type of ownership/tenureship is important for some estate planning exercises.

 

 

Changing your jointly owned property from ‘Joint Tenants’ to ‘Tenants in Common’ should be considered for tax planning, long term care planning, divorce defence, when remarried, by cohabiting partners,  and / or where their are step children.

 

If you use our home-visit will writing service we will explore how the tenancy of your property could be used in your estate planning.

 

We discuss property tenancy (and the need to severe it) with you when making

your will - if appropriate. If appropriate we will then sever the tenancy for you,

subject to a small additional fee.

 

More details of our home-visit will writing service can be found on the product page.

  • Property ownership
  • Joint tenants
  • Tenants in common
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