Transfer Sole Tenancy to Tenancy in Common Soham
The Issue With a Sole Tenancy Soham
Transferring Sole Tenancy to Tenancy in Common
Another point should be mentioned here. Let us assume for a moment that a husband and a wife are tenants in common. Should the husband die and leave his share of the property to someone other than his wife, the home may have to be sold in order to give this third beneficiary the cash value that was promised within the will. One option here is to have a specific clause known as “giving a life interest” written into the will. This allows the other half to continue to live in the home until his or her death.
Tenancy in common is an excellent way to avoid future disputes upon the death of a property owner. We are pleased to provide an expert that will Soham help you construct your will while addressing such important tenancy issues.