Q:What is the difference between tenants in common and joint tenants?


Joint tenants and tenants in common are two ways for two people to hold a property.

Owning your property as joint tenants means the property belongs to you and the other owner or owners jointly and equally. Your respective shares can not be separated. You must all act together as a single owner, for example on a remortgage or a sale. You cannot give away your share of the property in a will. If you die, your interest in the property passes automatically to the other owner or owners.

Owning property as tenants in common means the property belongs to you jointly, but you own a specific share of its value. You can have more than two owners and can own it in any proportions. You can give away, sell or mortgage your share. If you die, your share of the property passes to the beneficiary in your will.

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