Joint Property Ownership: How It Affects Your Will

When you own a home with someone else, it’s easy to assume that your share will automatically pass to your loved ones if something happens to you, but that’s not always the case.The way your property is owned makes a huge difference to what happens when you die.

At Newlife Wills, we regularly meet couples and families who are surprised to learn that their Will doesn’t always control what happens to their property. Here’s what you need to know;

The Two Types of Joint Ownership

In England and Wales, there are two main ways to own property jointly:

1. Joint Tenants

• Both owners own the whole property together rather than separate shares.

• If one of you dies, the property automatically passes to the surviving co-owner through a rule called the Right of Survivorship.

• This happens outside of your Will – meaning your Will cannot override it.

  
  

Example: If you and your partner own your home as joint tenants and you pass away first, your share will go directly to your partner, even if your Will says otherwise.

2. Tenants in Common

• Each person owns a defined share of the property – often 50/50, but it can be any agreed percentage.

• Your share does not pass automatically to the co-owner.

• You can leave your share to whoever you wish in your Will – for example, children from a previous relationship, or into a trust for your partner’s lifetime.

• 
  

This option gives you far more control and flexibility over what happens to your share after death.

Why This Matters for Estate Planning

The form of ownership affects:

• Who inherits your share of the home

• Inheritance Tax calculations

• Whether a Property Protection Trust can be included in your Will

• Eligibility for care fee protection in later life

  
  

For couples, switching from joint tenants to tenants in common can be a smart move – especially if you want to protect your children’s inheritance while still allowing your partner to live in the home.

Can You Change the Type of Ownership?

Yes – you can. If you currently own as joint tenants, you can complete a simple legal process called a Severance of Joint Tenancy. Once done, each of you owns a defined share, allowing your Will to take effect over your portion.

This is something we at Newlife Wills often arrange alongside new or updated Wills, so your property ownership and Will are perfectly aligned.

Example Scenario;

Mark and Sarah own their home together as joint tenants. Mark has two children from a previous marriage, and he wants to ensure they ultimately inherit his half of the home.

By severing the joint tenancy and switching to tenants in common, Mark can leave his 50% share in trust for Sarah to live in during her lifetime, and then for his children to inherit later. That way, Sarah is protected and so are Mark’s children.

Peace of Mind with Newlife Wills

Understanding how your property is owned is essential to making sure your wishes are carried out exactly as intended. At Newlife Wills, we’ll review your title deeds, confirm your ownership type, and help you structure your Will or trust accordingly, giving you complete peace of mind.

📞 Get in touch today to discuss your Will or property ownership review.

➡️ Visit www.newlifewills.co.uk or call us on 01843 269165 to book a free consultation.