Co-ownership of property

Joint Tenants and Tenants in Common

Did you know where land is owned by two or more people, they each have a simultaneous interest in the land and are known as “co-owners”.

There are two ways in which co-owners may hold property:

• As joint tenants
• As tenants in common

If co-owners hold the property as tenants in common, they each have a distinct beneficial share in the property. It is advisable for the co-owners to indicate expressly the proportions in which they hold the property, rather than leaving this to be implied from the circumstances and the financial contributions made by each co-owner.

If you need any advice regarding the co-ownership of property, please contact our team at Allington Hughes for further support on 01978 291000 or email [email protected]