What does it mean to hold something in joint tenancy with someone?

In estate law, joint tenancy is a special form of ownership by two or more persons of the same property. The individuals, who are called joint tenants, share equal ownership of the property and have the equal, undivided right to keep or dispose of the property. Joint tenancy creates a Right of Survivorship.

What is difference between joint tenancy and tenancy in common?

In a joint tenancy, the partners own the whole property and do not have a particular share in it, while tenants in common each have a definite share in the property.

Can someone else take over my tenancy?

You can assign your tenancy to a partner who lives with you. The property must be their main home. If you don’t live with a partner, you may be able to assign your tenancy to someone else who lives with you but only if your tenancy agreement says you can.

How do I leave joint tenancy?

If you’re joint tenants and you both want to leave, either you or your ex-partner can end the tenancy by giving notice. You’ll both need to move out. If you’ve agreed one of you plans to stay, it’s usually best to explain this to your landlord and ask them to update the tenancy agreement.

What is the difference between an Assured Tenancy and a secure tenancy?

Assured tenancies are similar to secure tenancies, in that they offer high security of tenure and effectively operate as a tenancy for life. Assured tenants may benefit from rights such as the Right to Acquire (which mirrors the Right to Buy) and are granted limited succession rights.

When can a joint tenancy be severed?

If at any time you would not wish your co-owner to receive your half share of the property automatically, in the event of your death, then that would be the time to sever the joint tenancy. This is often a matter which is considered when a relationship comes to an end, whether the parties be married or not.

How do I serve a notice of severance of joint tenancy?

A Notice of Severance, signed and dated by the party who wishes to sever, will need to be served upon the co-owner. This could be done by simply sending the Notice of Severance to the other party in the post and asking that they sign and date the notice themselves and return it.