SEVERANCE OF TENANCY
CHANGING THE WAY YOU OWN YOUR PROPERTY
Most couples own their property jointly. If one party dies, the house will immediately transfer into sole ownership of the survivor. This can come with a number of problems:
▶ Care fees - if the survivor has to go into care, the property will be vulnerable for paying care fees
▶ Remarriage- if the survivor remarries, the house is vulnerable to being passed on to another family. This is known as 'sideways disinheritance'.
▶ Children from different relationships - when couples have children from different relationships, it is important to ensure that your children always benefit. When a house is owned jointly, and one person dies, the survivors family are often the only beneficiaries upon second death which means your children are left out.
All of these problems are easily avoided with our solution. Contact us now to find out more.
Westcountry Estate Planning are also able to help you with various other areas of property, including:
- Removing a deceased from the title of a property
- Gifting a property to another individual(s)
- Adding another individual to a property
- Cohabiting agreements
- Declaration (deed) of Trust
Telephone: 0800 133 7512
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