Two ways to own property together
In England and Wales there are only two ways for more than one person to hold the legal title to a residential property: as joint tenants or as tenants in common. The choice does not change your day-to-day ownership experience, but it has major consequences for inheritance, for what happens if a relationship breaks down, and for what each person receives when the property is sold.
The decision is made when you buy, recorded in your conveyancer's instructions and at HM Land Registry, but it is not permanent. You can switch from joint tenants to tenants in common at any time by severing the joint tenancy, a straightforward legal step. Changing from tenants in common back to joint tenants is less common but also possible. Scotland uses different terminology and different legal concepts, but the underlying practical choice between survivorship and defined shares is broadly similar.
Getting the decision wrong is a common and sometimes costly mistake. Joint tenancy is the default in many conveyancing firms unless specifically instructed otherwise, which means some couples who intend to protect different contributions end up with automatic survivorship instead. Discussing the options explicitly with your conveyancer before exchange is essential.
Comparing the two ways to own together
The practical differences that should drive your decision.
| Feature | Joint tenants | Tenants in common |
|---|---|---|
| Ownership shares | Equal and undivided | Defined, can be unequal |
| On death of one owner | Passes automatically to co-owner(s) | Passes under the deceased's will or intestacy |
| Right of survivorship | Yes, automatic | No |
| Can leave share in a will | No | Yes |
| Record of shares needed | Not applicable | Declaration of trust strongly recommended |
| Suitable for | Married couples with equal contributions | Unequal deposits, friends, blended families |
| Mortgage lender position | Both jointly and severally liable | Both jointly and severally liable |
| Changing the arrangement | Sever the tenancy at any time | Convert to joint tenancy by deed |
| Inheritance tax position | Passes outside the estate | Included in deceased's estate |
Tenants in common is the more flexible option for protecting unequal contributions and directing inheritance. Joint tenancy is simpler for couples with equal stakes and no need for separate will provisions.
When tenants in common makes sense
Tenants in common is appropriate whenever the co-owners want certainty about proportional ownership. The most common scenario is an unequal deposit contribution: if one buyer puts in £60,000 and the other £20,000, they may want a 75/25 split rather than equal ownership. Without a formal record, that contribution could be disputed or simply lost if the relationship ends.
Blended families are another clear use case. If you have children from a previous relationship, owning as tenants in common means you can leave your share to your children in your will, rather than it passing automatically to a new partner. This is a common element of later-life cohabiting arrangements.
Friends buying together should almost always use tenants in common with a detailed declaration of trust. The declaration can address not just ownership percentages but also what happens if one person wants to sell and the other does not, how ongoing costs are divided, and what the minimum sale price must be before either party can force a sale.
Why a declaration of trust matters
A declaration of trust, sometimes called a deed of trust, is the legal document that makes tenants in common ownership watertight. It should cover:
- Each owner's percentage share of the equity.
- How the initial deposit and purchase costs were contributed.
- How ongoing mortgage payments and maintenance costs are split.
- What happens if one owner wants to sell and the other does not.
- The process for one owner buying out the other.
- What minimum price must be achieved before a sale can proceed.
- How any future improvements affecting value are treated.
How to sever a joint tenancy
If you currently own as joint tenants and wish to switch to tenants in common, you sever the joint tenancy by one owner serving a written notice on the other(s). This does not require the other person's consent. The notice should be kept safely as evidence, and a Form A restriction should be registered at HM Land Registry to prevent any future disposition without both owners' consent.
Severing a joint tenancy is often appropriate when a couple separates and wishes to protect their respective shares before divorce proceedings are finalised, or when one partner's health deteriorates and they want to direct their share to children rather than a surviving spouse. A solicitor can handle the severance for a few hundred pounds and it can be done quickly.
After severance you will own as tenants in common in equal shares unless a declaration of trust specifies otherwise. If your contributions have been unequal and you wish the split to reflect that, draw up a declaration of trust at the same time as the severance.
Update your will to match your ownership structure
If you own as tenants in common, your share passes under your will, not automatically to your co-owner. Make sure you have an up-to-date will that clearly states who inherits your share. Without a valid will, the intestacy rules decide for you, which may not reflect your wishes and can cause significant stress for family members.