Tenants in Common and Wills

As tenants in common, each owner holds a distinct share of the property rather than owning the whole thing jointly with no defined split. These shares do not need to be equal; they can reflect different deposits, different mortgage contributions, or a simple agreement between the owners about what feels fair. The shares are usually recorded in a declaration of trust alongside the purchase, though it is possible to set this up later as well.

The key legal difference from a joint tenancy is that there is no automatic right of survivorship. When one tenant in common dies, their share does not pass to the other owner by default. Instead it becomes part of their estate and is dealt with under their will.

Tenancy in common is often chosen where owners have contributed unequally and want that reflected on death, where a couple wants to preserve a share of the property for their own children rather than automatically benefiting a partner's family, or where people buying together are not in a relationship at all, such as friends or siblings.

It is also common for couples in second relationships, where each partner wants their share to eventually pass to their own children, while often still allowing the surviving partner to remain living in the property during their lifetime through a trust arrangement.

Because your share does not pass automatically, dying without a will leaves the outcome to the intestacy rules, which follow a fixed order of relatives and take no account of an unmarried partner at all. This can produce a genuinely awkward result: your co-owner could end up owning a property jointly with your parents or siblings, who inherit your share under intestacy, rather than with anyone you would have chosen.

A will lets you decide clearly who inherits your share, whether that is a partner, children, or a combination through a trust. It can also set out whether a surviving co-owner should have the right to continue living in the property, for example for their lifetime, before the property is eventually sold and the proceeds distributed.

A common structure for tenants in common in second relationships is a life interest trust, sometimes described in wills as an interest in possession trust, which allows a surviving partner to remain living in the property for their lifetime or until a specified event, such as remarriage, while ultimately preserving the capital value of the share for the deceased's own children.

These trust structures need to be drafted carefully to work as intended and to interact correctly with the other owner's interest in the property. If you are considering this kind of arrangement, take individual legal advice rather than relying on a generic will clause.

For straightforward situations, such as leaving your share of the property outright to a spouse, partner or children, an online will service can generally handle the gift clearly and effectively. My Posh Will is an online guided will service for England and Wales that lets you record exactly what should happen to your share of a jointly owned property.

A single will costs £69 and mirror wills cost £89, both one-off payments with lifetime access, and most people complete their will in around ten minutes, with clear instructions on signing and witnessing. Where a trust structure is needed to balance a partner and children, take advice from a solicitor to make sure it is set up correctly.