Severance of Tenancy

Severance of Tenancy

The majority of couples hold their property in joint names as what is known as Beneficial Joint Tenants. Your Paralegal will be able to show you that for a relatively small investment in your Estate Planning you can Sever the Tenancy and become Tenants in Common, each owning half the property. This allows you to pass your half to your beneficiaries on your death, thus protecting it from loss to pay for care fees for your surviving spouse, for example. This work requires the additional service of Right of Occupation.

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