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Wills -tenants in common


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On 24/10/2019 at 11:07, Obelix said:

Yes, although it does not make clear one essential fact.

The law was changed in about 1925 so that LEGAL ownership held by > 1 person is inescapably JOINT.

It creates an implied trust of land, no matter whether the parties know about it or not (and no matter whether they want it or not!)

 

The options of BENEFICIAL JOINT TENANCY (BJT) and BENEFICIAL TENANCY IN COMMON (TIC) there fore apply only to the equitable ownership (= the beneficiaries' under that trust).

 

The only difference at HM Land Registry is that joint proprietors have to register a 'form A' Restriction if they're not beneficial joint tenants.

 

It's possible to switch from BJT to TIC (by 'Notice of Severance').

It's also possible to switch from TIC to BJT, although this is more complex and necessitates a Deed.

Edited by Jeffrey Shaw
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