Land and buildings tenancy in common declaration

There are various of reasons why you might want to own a property as tenants-in-common rather than as joint beneficial owners (also knows as joint tenants). Tax planning is often the motive. Joint beneficial ownership can be severed by agreement of each of the joint owners.

Joint tenants v tenants-in-common

Severing a joint tenancy is often used so that owners can be entitled to a different share of a property, i.e. other than having equal entitlements. Where a joint tenancy is severed the owners are tenants-in-common and only entitled to a share of the property they all agree on. Use our Agreement to Sever a Joint Tenancy for this prupose.