Can a married couple own a joint property?

Can a married couple own a joint property?

If property is owned in joint names, it is common, particularly for married couples, to own the property as “J oint Tenants ” rather than as “T enants in Common ”. This can also often be the case for de facto couples.

What happens to joint ownership of real estate?

If the joint tenancy is severed, then the property will continue to be held in equal shares as “tenants in common” which should mean that your interest in the property will not automatically go to your former spouse if you die after you have separated. You should also read our information…

What to do with jointly owned property in divorce?

Settlement of jointly owned property, on divorce. When a couple decides to separate, the house taken jointly and which is mortgaged to a financial institution, has to be amicably dealt with. There are many ways to settle this and the outstanding amount: Sell the property and clear the loan. The remaining amount could be divided mutually.

Who is the joint owner of a family home?

Where the family home was bought and registered in both spouses’ names, they are the joint owners. However, where the house is registered in the name of one spouse only, it may be solely that spouse’s property. You can read more about ownership in our documents on family homes and joint ownership of property.

What happens to joint ownership of real estate if you die?

If the joint tenancy is severed, then the property will continue to be held in equal shares as “tenants in common” which should mean that your interest in the property will not automatically go to your former spouse if you die after you have separated.

What can you do with property if you are joint owner?

You can own a property as either ‘joint tenants’ or ‘tenants in common’. The type of ownership affects what you can do with the property if your relationship with a joint owner breaks down, or if one owner dies. You can get legal advice from someone who specialises in property. Joint tenants.

Do you have to tell HM Land Registry you are joint owner?

You tell HM Land Registry about this when you register the property. You can own a property as either ‘joint tenants’ or ‘tenants in common’. The type of ownership affects what you can do with the property if your relationship with a joint owner breaks down, or if one owner dies.

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