Register now, it’s free to
- Receive our enewsletter, read a recent issue
- Enter competitions
- Join our meeting place
Most Popular Articles
Latest Comments1.
| Stepping up censorship |
2.
| Nothing new for pensioners |
3.
| A rose by any other name |
1.
| Dont throw away too soon and save |
2.
| Need to Feel More Secure at Home and When |
3.
| Enter to Win a Doro PhoneEasy 615 Mobile Phone |
Featured offers
Love and money – your questions answered
|
Buying a home together
Following on from her article, Love and money, which features in the latest edition of YOURLifeChoices online magazine, Louise Biti answers your questions.
Q. Tony
My partner and I have decided to buy a home together, and you said it was important to talk about whether to purchase as joint tenants or tenants in common. What is the difference, and how will it affect my finances?
A.
When you buy a house you can specify ownership on the title deed as either tenants in common or joint tenants. Which option you choose can make a difference from an estate planning point of view. If you own the house as joint tenants, upon the death of one person full ownership automatically passes to the survivor. However, if you own the house as tenants in common, upon death that person’s share of the house will form part of the estate and the will can then specify who takes over the ownership.
