Joanne Newsome says –
Great appointment with a new will client last week however something which came up I have noticed comes up quite often at initial appointments, in that people do not realise that their share of the property which they own will not pass under the terms of a will.
There are two ways in which a property can be held; as beneficial joint tenants and tenants in common.
Most properties are held as the first i.e. beneficial joint tenants which means that when an owner dies the property passes automatically to the surviving owner/s.
This is not always what people would wish to happen and therefore if you own a property with someone and are not sure how this property would pass on death then please contact us now for further advice.