Severance of Tenancy
There are two ways to hold a tenancy between two people:
- To hold the property as beneficial joint tenants. This means that in the event of the death of one of the owners the surviving owner(s) will continue to own the property and the only action needed to be taken is for the death certificate to be lodged with the deeds.
- The second is to hold the property as beneficial tenants in common. This means that each person will own a separate share of the property and this will be evidenced by means of a declaration of trust.