Tenancy Conversions

Tenancy Conversions

  • DOMESTIC PROPERTY is commonly owned by couples as “beneficial joint tenants,” which means that upon the death of one of the joint owners, the property passes automatically to the survivor, regardless of whether the deceased had a Will or died intestate.
  • HOWEVER, in certain circumstances – such as the mitigation of Inheritance Tax, or safeguarding the inheritance of the children of a former marriage – it may well be desirable to convert the ownership to “tenants in common.”
  • WE CAN advise and, if necessary, prepare severance documents to lodge with the Land Registry.