Joint Tenants or Tenants in Common?

It is important how you hold the property. If you are purchasing the property with someone else, you have a choice as to how you wish to hold the property, either as Joint Tenants or Tenants in Common.

The important differences are: as joint tenants, on the death of one person, the interest of the deceased person passes automatically to the surviving person notwithstanding the contents of that person’s Will.

In the case of tenants in common, upon the death of one person, the interest of the deceased person passes in accordance with the provisions of the Will of the deceased person.