Tenants in common?? How to find out if this is valid

doodling

Hi,

castle96 said:

still can't believe this can take place

But you also need to think about what the alternative would be.  If Joint Tenancies couldn't be severed unilaterally then what do you think should happen when someone wants to change the ownership arrangements?

My suspicion is that when you think about the alternatives, you will end up with something which looks very much like how things are now.

Remember that if there is a disagreement about the ownership proportions in the case of Tenants in Common then it would end up being settled in court (as one party could block a sale until those proportions are agreed) - what extra protection do you think is needed?

I have a suspicion (comments from people who know the law better than me welcome) that in the case of Joint Tenants, you could come home one day and find the house has been sold by the other owner.  If you don't like the idea of severing Joint Tenancies then that should really worry you!  (In reality I suspect a solicitor wouldn't proceed with such a sale if they thought the other party was unaware but I don't think there is anything legally to prevent it).

xylophone

https://www.netlawman.co.uk/ia/co-ownership-property#:~:text=The consequences of joint tenancy,ownership is equal.&text=if one party wants out,party refuses to co-operate.

castle96

"I have a suspicion (comments from people who know the law better than me welcome) that in the case of Joint Tenants, you could come home one day and find the house has been sold by the other owner."

But that's the point - they COULDN't without the other person knowing/agreeing

Keep_pedalling

castle96 said:

"I have a suspicion (comments from people who know the law better than me welcome) that in the case of Joint Tenants, you could come home one day and find the house has been sold by the other owner."

But that's the point - they COULDN't without the other person knowing/agreeing

Regardless of whether in is JT or TIC the house could not be sold without all owners agreeing unless a court ordered it. In theory a TIC owner could sell their share of the house but there are few buyers for half a house. 

doodling

I knew my last paragraph was a mistake as all I've done is diverted the thread away from my main point.  The responses do however further emphasise that it isn't the case that each party in a Joint Tenancy owns 100% of the property - if they did then they wouldn't need someone else's agreement to sell it...

I notice that we don't yet have view from anyone as to how things ought to work, if they shouldn't work as they do now.

castle96

But they DO own 100% each, JOINTLY

Brings to mind "jointly and severally"

xylophone

The responses do however further emphasise that it isn't the case that each party in a Joint Tenancy owns 100% of the property 

They each own 100% of the property otherwise either party could gift the property to somebody else, sell it to somebody else or will it to somebody else.

Neither party can gift/sell/bequeath that which is  100% owned by another party.

Even where a property is held as tenants-in - common, the legal title to the land is held jointly- what is held separately is an interest in the  equity (value) of the property and it is that interest in the equity which can be gifted or bequeathed.

See https://www.land-registry-documents.co.uk/information/joint-ownership-tennants/

getmore4less

A good summary of property ownership is the land reg practice guide.

https://www.gov.uk/government/publications/private-trusts-of-land/practice-guide-24-private-trusts-of-land

different to how most people thinks it works.

Since 1925, it has been impossible for a legal estate to be held as a tenancy in common (sections 1(6) and 34 of the Law of Property Act 1925). Joint owners must hold the legal estate as joint tenants, but their beneficial interests may be held either as joint tenants or as tenants in common.