Where a property is to be held in more than one name two options are available
1.Joint Tenants
- Joint Tenants always hold in equal shares
- On the death of a Joint Tenant the surviving Joint Tenant becomes the owner of the property
- A Joint Tenant cannot dispose of their share in a property by Will
2.Tenants in Common
- Two or more persons may hold in equal or unequal shares (eg "A" as to a one-third share and "B" as to a two-thirds share)
- A Tenant in Common may dispose of their share of the property by Will
|