JOINT TENANTS/TENANTS IN COMMON

Blueberryjamforever

I downloaded the title register for our property today to chk if we are joint tenants or tenants in common, it shows neither. 
My other half/self are named in full as registered owners on the title deeds.
Both our names are seen again in section "B" as proprieters on entry 1, but on same section, entry 3 it shows a restriction stating the following:

"No disposition by a sole proprietor of the land (not being a trust corporation) under which capital money arises is to be registered except under an order of the registrar or of the court." (We have interpreted this as "one person cant sell the property without the others consent").

We expected to see on the doc's either joint tenants or tenants in common (as this is what everyone talks about), but it became clear you dont see this at all.
An explanation is given on Gov.Uk for this and advises how to work out which tenant you are, but it has left us worrying that one of us is not a joint tenant and owns less.
Can anyone explain for sure?.

propertyrental

the LR Title just lists the (in your case) two owners. It does not specify the legal relationship between them.

However the restriction does, as you infer, indicate you are Tenants In Common.

It would be normal good practice when purchasing as TiC to simulaneously create a deed specifying the proportion of ownership and perhaps also what would happen in various scenarios eg one person wishes to sell etc).

You should also both write wills.

Blueberryjamforever

Thank you for the information. We never requested to be TiC, and have never been aware of it. Any idea how we can change this?

propertyrental

https://www.gov.uk/joint-property-ownership/change-from-tenants-in-common-to-joint-tenants

Blueberryjamforever

Thank you so much, that has really helped. It just goes to show you should check everything in full. 

badger09

Blueberryjamforever said:

Thank you for the information. We never requested to be TiC, and have never been aware of it. Any idea how we can change this?

The restriction you described does indeed imply you are tenants in common. When you were buying the property, your solicitor/conveyancer would have asked you whether you were buying as Joint Tenants or TIC. Both the question & your response would have been in writing. If you’ve kept the paperwork from your purchase (a good idea IMO) you’ll find it. 

macman

This would be the first question that your conveyancer would have asked when handling a joint purchase, so at some point you must have specified your preference.

TBG01

It would've also been noted in the TR1 you've signed, which I'm assuming you read before signing, being such an important document.

CalJo99

Can I just point out that there may come a time when you might prefer to be one rather than the other? 

I can't remembver which is which (sorry!), but there is one where, if one spouse gets dementia, and the value of their share of the jointly owned home is taken into consideration by the local council as to eligibility for council-paid residential care, and then the one WITHOUT dementia dies, then the one WITH dementia automatically inherits the share of the non-dementia late spouse, and then that is also used by the council to avoid paying for residential care.

If you don't have children or other heirs it won't matter, but if you have a child, and the valiue of BOTH halves of the parental home is spent on residential care for the surviving dementia-parent (because the council can then refuse to pay for residential care), then the valiue of the entire house can go on care costs, not just the half originally belonging to the parent with dementia.

Sorry I can't remember which is the situation which triggers this, ie, TIC or JT.  (If you want to know more, please check on the Carers UK website, which spells it out IIRC)

badger09

CalJo99 said:

Can I just point out that there may come a time when you might prefer to be one rather than the other? 

I can't remembver which is which (sorry!), but there is one where, if one spouse gets dementia, and the value of their share of the jointly owned home is taken into consideration by the local council as to eligibility for council-paid residential care, and then the one WITHOUT dementia dies, then the one WITH dementia automatically inherits the share of the non-dementia late spouse, and then that is also used by the council to avoid paying for residential care.

If you don't have children or other heirs it won't matter, but if you have a child, and the valiue of BOTH halves of the parental home is spent on residential care for the surviving dementia-parent (because the council can then refuse to pay for residential care), then the valiue of the entire house can go on care costs, not just the half originally belonging to the parent with dementia.

Sorry I can't remember which is the situation which triggers this, ie, TIC or JT.  (If you want to know more, please check on the Carers UK website, which spells it out IIRC)

There are many reasons for choosing to buy your home as Tenants in Common, rather than Joint Tenants, other than the one you have attempted to describe. Which appears to be avoiding paying for care. 

Joint Tenants means survivor automatically owns the whole property when the 1st dies. 

Tenants in Common means both owners can decide, by specifying in their will, who inherits their share when they die.