top of page

OUR INSIGHTS

Joint Tenants vs Tenants in Common – Part 1

  • Jeremy Callander
  • Nov 15, 2022
  • 1 min read

Updated: Jul 16, 2024

You can own property (or a share in a property) with other people in one of two ways: as joint tenants or as tenants in common.

Being joint tenants is a bit like having a joint bank account – i.e. you both/all own the whole property together.

If one or more of the owners dies, their interest in the property does not form part of their estate. Instead, the surviving owner(s) simply continues to own the whole property.

Being tenants in common is different, and the difference is very important.

If you own a property with one or more other people as tenants in common, then you each own an identifiable share of the property. If you take a look at the applicable Record of Title, you will see that it says:

John Smith as to a ½ share. Sarah Black as to a ½ share.

Or if there are three owners:

John Smith as to a 1/3 share. Sarah Black as to a 1/3 share. Paul Doe as to a 1/3 share.

Because the respective shares of the owners are identifiable, if one of the owners dies, then their share forms part of their estate.

If you have questions around joint tenants and tenants in common, please call us.

Related Posts

First Home Buyers – deposits and ‘deposits’

If you are the Purchaser under an Agreement for the sale and purchase of property and that Agreement becomes unconditional, you will (in most circumstances) be required to pay a portion (e.g. 10%) of

 
 
Property and Family

Sometimes purchasing property is not as straightforward as simply finding a property that you like and then buying it. Sometimes we need some assistance from family and/or friends.

 
 
bottom of page