When two or more people buy a home together, the law asks how they wish to own it. The choice between joint tenants and tenants in common sounds like dry legal jargon, yet it decides what happens to each person's share when they die or fall out. It is a small decision with large consequences.
Joint tenants
As joint tenants, you own the whole property together with no distinct shares. If one owner dies, their interest passes automatically to the other, regardless of what a will says. This suits married couples and long-term partners who want the survivor to inherit the home seamlessly. It is the simpler, more unified form of ownership.
Tenants in common
As tenants in common, each owner holds a defined share, which need not be equal. One person might own seventy percent and another thirty, reflecting what each put in. Crucially, you can leave your share to whomever you choose in your will, rather than it passing automatically to the co-owner.
- Joint tenants equal, undivided ownership, survivor inherits
- Tenants in common defined shares, passed on by will
- Declaration of trust records who owns what and why
Which to choose
Couples who want everything to pass to the survivor often pick joint tenancy. Friends buying together, family members, or partners with children from earlier relationships frequently prefer tenants in common, so each can protect their own stake and direct it to their chosen heirs. There is no right answer, only the one that fits your situation.
Putting it in writing
If you are tenants in common with unequal shares, record the arrangement in a declaration of trust, setting out who owns what and how the proceeds split if you sell. It feels unnecessary while everyone is on good terms, but it prevents bitter disputes later. You can also switch between the two forms if circumstances change.