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Aston Lawyer
Aston Lawyer, Solicitor
Category: Law
Satisfied Customers: 10459
Experience:  Solicitor LLB (Hons) 23 years of experience in Conveyancing and Property Law
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My wife asked me to severe our joint tenancy reason: "If

Customer Question

Hi my wife asked me to severe our joint tenancy for this reason:
"If joint tenancy had not been severed and you died first, then your half share of the property would have passed automatically outside of your Will to your husband, subject to the existing mortgage. In other words you wished the residue of your estate to be used to pay off your share of the mortgage so that your husband received you half share mortgage free. For that reason it was important that your Will gives your half share of the property to your husband on the basis that it is free of mortgage and , in addition, that the gift extends to your principle residence before your death. Therefore if you had moved, the gift extends to the property you were living in at the date of your death, even if the property you owned at the date of your death in which was your previous residence was not owned by both joint tenants"Does this seem strange?, why not just use life insurance?
Submitted: 1 year ago.
Category: Law
Expert:  Aston Lawyer replied 1 year ago.

Hi, thanks for your enquiry. The proposal does appear to be a little strange, I must admit. I take it that your Wife wants to make sure that any monies in her Estate are firstly used to discharge "her half share" of the Mortgage? If so, I take it that she has the liquid assets (ie cash/savings/shares etc) to cover the value of her half share? Could you also confirm that your Wife's Will proposes to leave everything to you if she were to go first? Kind Regards Al

Customer: replied 1 year ago.
she currently has the assets yes, and she's not leaving everything, mainly the property to me, ...
Customer: replied 1 year ago.
Do recommend asking her to stop this and reverse it back to joint tenancy?
Expert:  Aston Lawyer replied 1 year ago.

Hi, thanks for your reply. The more I think about it the more I think the severance of the joint tenancy will be of no benefit. If your Wife wants to "leave" her share of the property to you, then she may aswell leave the property as a Joint tenancy, meaning no paperwork relating to the property is necessary now or if she goes first. If she wishes to make sure £X of the Mortgage is paid off using her Estate, she can just specify this in her Will by way of a specific legacy to you of the specified amount/amount equating to half of the outstanding mortgage amount as at the date of her death. This is my view, and hope it is helpful. Kind Regards Al

Expert:  Aston Lawyer replied 1 year ago.

Hi, can I assist you any further? Kind Regards Al

Customer: replied 1 year ago.
do think this is not in good faith?
Expert:  Aston Lawyer replied 1 year ago.

Hi, I don't know to be honest, but I've never heard of anyone severing a joint tenancy for this reason. Normally, it is used so that the person can leave their half share of the property to someone other than the joint owner. You are best to speak to your wife. Kind Regards Al

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Customer: replied 1 year ago.
ok thanks
Customer: replied 1 year ago.
Hi are you still there,?
Customer: replied 1 year ago.
I was wondering why would a Solicitor recommend this to my wife? does it seem unrealistic?
Expert:  Aston Lawyer replied 1 year ago.

Hi, apologies for delay- been assisting another customer. I really don't know why and I can't really comment as to whether or not the Solicitor is advising this but you will have seen what I said I my previous posts. Kind Regards Al

Customer: replied 1 year ago.
she says she wanted to leave me the house mortgage free, and thats what the solicitor advised
Expert:  Aston Lawyer replied 1 year ago.

Hi, well I can't really say anymore than what I have already said- the property will pass to you keep it as a Joint tenancy. Kind Regards Al