Buying a House

You may choose to buy your property jointly with someone else, such as your husband, wife, civil partner, partner, relative or friend.

If you buy your property with someone else, you can choose to do this in one of two ways, as either:

• beneficial joint tenants, or
• tenants in common.

This is the case whether you own the freehold or leasehold of the property.

If you are thinking about buying a property with someone else, you should get legal advice on the best type of ownership for you.

Beneficial joint tenants

If you own your property as a beneficial joint tenant, this means that it belongs to you and the other owner(s) jointly. You can’t re-mortgage or sell the property without the agreement of all the other owner(s). However if there is a dispute, an owner can apply for a court order.

As a beneficial joint tenant, you don’t own specific shares in the property and you can’t give away a share of the property in a will. If you die, your interest in the property passes automatically to the other owner(s).

Tenants in common

If you own your property as tenants in common, this means that it belongs to you and the other owner(s)jointly, but that you all also own a specific share of its value. It is up to you to decide how much each share will be.

You can give away, sell or mortgage your share. If you die, your share of the property does not pass automatically to the other owner(s). You can leave your share to whoever you like in your will.