Tenants in Common vs Joint Ownership 

How you own your property has a direct impact on what happens to it in the future. In the UK, property is typically owned in one of two ways: joint tenants or tenants in common (TIC).

If you own your home as joint tenants, you both own the whole property together. This means that when one person dies, their share automatically passes to the other owner, regardless of what is written in a Will. This is known as the right of survivorship. While this can seem straightforward, it removes control over where that share ultimately goes.

Owning as tenants in common is different. Each person owns a defined share of the property, which can be passed on through a Will. This allows you to direct your share to chosen beneficiaries, rather than it automatically transferring to the other owner.

For many people, this structure becomes important when thinking about future planning. For example, it can allow part of the property to be protected within a Protective Will that incorporates a Will Trust, helping ensure that your share is preserved for your intended beneficiaries.

It is sometimes used as part of wider planning when people are concerned about risks such as remarriage, family changes, or the potential impact of care costs. 

Understanding how your property is owned is often the first step in deciding whether any changes are appropriate. Looking up your property on HM Land Registry can let you know if you understand what you are looking at but as part of any planning a professional will check this for you and this will guide them on how your Will should be drafted. 

If you are unsure how your home is currently held, or whether a tenants in common arrangement may be suitable, it is worth reviewing this as part of your overall estate planning.