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Co-ownership

Severing a joint tenancy unilaterally

Many couples own their home together as joint tenants under a joint tenancy.  Under a joint tenancy an important legal consequence to remember with this type of property co-ownership is the legal right of survivorship. The right of survivorship means that when the first owner dies, their interest in the property is automatically absorbed so that …

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Update a will to avoid unintended outcomes

Updating a will might seem a troublesome chore, but circumstances can change from the time it was made. The changes might produce unintended and unwanted outcomes in the event of death. Therefore reviewing a will is important to keep its contents in line with intentions.  Regularly reviewing your will is important so it reflects your intentions.

Tenancy & co-ownership: jointly owned or in common?

Co-ownership, joint tenancy, tenants in commonMany people own property with someone else. An important issue to consider upfront are what happens when one of them dies. Who can take their interest, is this what they want and if not, can they make provision for it in their will?