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Change from Tenants-In-Common to Joint Tenants ??
R0bbieS
Posts: 5 Newbie
Many years ago we took out a trust will that required us to change house ownership to Tenants-in-Common. Due to tax changes that will has now been superseded by a simple mirror will (we would not be eligible for IHT under current legislation). The ownership, however, remains as was. My question is whether it is worthwhile having it changed back to Joint Tenants. What are the pros and cons, particularly if one of us has to go into long term care.
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Comments
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Better to speak to a solicitor about this.
As joint tenants the property would automatically pass to the surviving owner if one of you should die.
With Tenants in common you can leave your share to whoever you want.
You have joint mirror wills !0
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