What is the difference between a joint tenancy and tenancy in common?

What is the difference between a joint tenancy and tenancy in common?

What’s the Difference Between Joint Tenancy and Tenancy in Common? When two or more people own a home, either as a joint tenancy or tenancy in common, each person owns a share of the entire property. This means that specific areas of the house are not owned by one individual, but instead, are shared as a whole.

Is it best to be tenants in common?

Increasing numbers of homeowners are choosing to hold their properties as tenants in common to cut inheritance tax, avoid care home fees or protect their share. It is also a good way for parents to help get their children on the property ladder while protecting their money.

How is dissolution different from divorce?

The primary difference between divorce and dissolution is whether or not the parties are alleging fault of the other spouse as the grounds for the divorce. On the other hand, a dissolution can be thought of as a no-fault divorce. Fault grounds are not required for a dissolution.