Tenants in common, joint tenancy - remind me

[rfisher]

Can someone explain in very simple terms wtf this means?

Which one should you have if you are cohabiting, both named on the mortgage and have kids?

It's somethibg to do with whether the surviving partner is left the deceased partner's half of the house in the event of death - no?

And how can you tell what you have?

Ta.

[poo at Paul's]

If you want to leave your half the house to the missus if you croak, go joint tenants.

If you want to keep it seperate so it goes to your "next of kin" (which I think would be your kids ??) then tenants in common. BUT you can then sort it by leaving a will which should overide it all. If you get wed, then the missus will get your half.



I think!!

[jbswagger]

My understanding is that with joint tenenacy when you die your share automatically goes to the other tenant, it cannot go to anyone else. With the tenants in common you can leave you share to whoevever you like via a will etc.