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Remus2004
Remus2004, Barrister
Category: Property Law
Satisfied Customers: 70696
Experience:  Over 5 years in practice.
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Can more than two people own a property as joint tenants such

Customer Question

Can more than two people own a property as joint tenants such that the property passes by survivorship on death, please? I have been told that if 3 people own a property it can only be held as tenants in common (under a bare trust).
Thank you
Submitted: 3 years ago.
Category: Property Law
Expert:  Remus2004 replied 3 years ago.
Thank you for your question. My name is XXXXX XXXXX I will try to help with this.

Could you explain your situation a bit more please?
Customer: replied 3 years ago.

My son, his wife & I are considering the situation where I sell at an onpen market value & for true consideration a half share in my home to them such that on my death they inherit the house outright without my having to reconsider the situation should I remarry

Expert:  Remus2004 replied 3 years ago.
I am not aware of any provision whereby more than 2 co-owners cannot own a property as joint tenants.

The legal title cannot be held by more than four people in any event.

It is not possible to sever the legal title. It is only possible to sever the equitable title.

If the property is held as joint tenants by three people then it passes on the death of the first person to the other two survivors.

Here is an article that explains it for you

www.nelsonslegal.co.uk/private-clients/residential-conveyancing/joint-ownership/
Remus2004 and 2 other Property Law Specialists are ready to help you
Customer: replied 3 years ago.

So it could be owned as joint tenants but we would each have to own a 1/3 share, not me with 1/2 & them with 1/4 each?


 


Thank you

Expert:  Remus2004 replied 3 years ago.
You can only own different shares if it is tenants in common.

You would need a separate deed of trust to reflect unequal shares.

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