Severance
of Tenancy

Usually, if you buy a property with someone else, you become joint tenants and if one partner dies the property automatically transfers to the other. But say you’re divorced, have invested more in the property than your partner or have rental properties. If you don’t want the whole property to go to them, you need to Severance of Tenancy.

Severance of Tenancy switches you from being joint tenants to tenants in common; a subtle difference, but it means each partner has a specific share of the property. You’ll have more control over what happens to the property after you die, and it prevents your ex-spouse automatically inheriting; and if you co-own rental properties, you can split the income in unequal shares to potentially reduce the amount of tax you pay.

If you think Severance of Tenancy could be beneficial to you, our team of experts can explain all the benefits, how it works and guide you through the process, making it easy and tailoring it to you for complete peace of mind.

To arrange a home visit from one of them, simply get in touch.

Talk to your Aiker Legacy Adviser

Arrange a home visit now to discuss your current situation, and which options might suit you best, and how regular reviews can help you be sure your legacy isn’t at risk. The whole process is easy, and starts by simply giving us your details.

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