Severance of Joint Tenancy
Published / Last Updated on 24/09/2013
If you and your partner own a property together you are joint tenants.If one of you die then the surviving partner will own the property.If that person was to then need care the property would be taken to pay for it.You can plan for this with severance of joint tenancy where you each own half of the property. This allows you to be able to pass on your property. This means that if you or your partner where to die and the other then needed care only half of the property would be used for care fees.Property protection for you and your partner is important if you wish to pass on your property or protect it from care fees.
