Severance of Tenancy
A simple change to how you own your home that could protect your share for your children.
How Do You Own Your Home?
When two people buy a property together, they can own it in one of two ways: as joint tenants or as tenants in common. The difference between these two forms of ownership has significant implications for what happens to your share of the property when you die.
Most couples who buy a home together become joint tenants without really thinking about it. It's the default option and solicitors often don't explain the alternative. But for many families, being tenants in common offers much better protection.
Joint Tenants vs Tenants in Common
Joint Tenants
As joint tenants, you both own the whole property together. Neither of you owns a specific share. When one owner dies, the surviving owner automatically inherits the entire property through "survivorship." This happens regardless of what your will says.
While this sounds simple, it means you can't leave your share to anyone else, such as your children from a previous relationship. And if the surviving spouse later needs care or remarries, the children might lose out entirely.
Tenants in Common
As tenants in common, you each own a specific share of the property (usually 50%, but it can be any proportion). When one owner dies, their share passes according to their will, not automatically to the surviving owner.
This gives you much more flexibility. You can leave your share to your children while allowing your spouse to continue living in the home. You can protect your share from being assessed for the surviving spouse's care fees. You can ensure children from previous relationships are provided for.
Why Sever Your Joint Tenancy?
Protect Against Care Costs
If your spouse needs residential care after you've gone, their entire estate could be assessed to pay for it. If you were joint tenants, your share automatically became theirs, meaning the whole house value could be at risk. But if you were tenants in common and left your share to your children via a trust, your share is protected.
Provide for Children from Previous Relationships
In blended families, severance allows you to ensure your children inherit your share of the property, while still allowing your spouse to live there during their lifetime.
Protect Against Remarriage
If your surviving spouse remarries and then dies, their new spouse could inherit everything, including what used to be your share. Being tenants in common with the right will provisions prevents this.
Inheritance Tax Planning
In some situations, being tenants in common can be part of an inheritance tax planning strategy, potentially saving your family money.
The Severance Process
Check Your Current Ownership
First, we need to confirm how you currently own your property. This involves checking the Land Registry records.
Complete the Severance
A formal notice of severance is served, and a Form SEV is submitted to the Land Registry to update the records.
Update Your Will
Severance only makes sense if your will reflects your wishes for your share. We'll create or update your will to include appropriate provisions.
Registration Complete
Once the Land Registry updates their records, you'll be tenants in common, each owning your specified share.
Important Considerations
Severing a joint tenancy is a straightforward process, but it needs to be done as part of a broader estate planning strategy. On its own, severance does nothing to protect your family. You also need:
- A properly drafted will that specifies what happens to your share
- Trust provisions if you want to protect your share while allowing your spouse to continue living in the home
- Clear instructions for your executors about how to handle the property
I'll explain all of this during our consultation and help you create a complete solution that achieves your goals.
Frequently Asked Questions
Does my partner need to agree to severance?
No. Either joint tenant can sever the tenancy unilaterally by serving written notice on the other. However, for estate planning to work effectively, both partners usually need to be involved in making coordinated wills. I always recommend discussing your plans together.
Will severance affect my mortgage?
Severance changes how you own the property, not your liability for the mortgage. Both of you remain fully responsible for the mortgage payments. Your lender doesn't need to approve the severance, but you should check your mortgage terms for any relevant clauses.
Is severance the same as splitting the property?
No. Severance doesn't physically divide the property or affect who lives there. Both of you continue to own the property together and have equal rights to live in it. The difference is in what happens to your respective shares when one of you dies.
Can we become joint tenants again?
Yes, you can convert back to joint tenants if your circumstances change. This requires both of you to agree and complete the appropriate Land Registry forms.
How do I know if I'm currently a joint tenant?
You can check by looking at your title deeds or by searching the Land Registry. If you're not sure, I can check this for you as part of our consultation.
Protect Your Share for Your Family
Book a free consultation to discuss whether severance and property protection could benefit you.