russ295 Posted October 2, 2007 Report Share Posted October 2, 2007 busy buying an upper flat to rent. first one in joint names with the wife, solicitor has said there are 2 ways in which jointly owned property may be held, beneficial joint tenants or beneficial tenants in common, any ideas? russ Link to comment Share on other sites More sharing options...
Selkirk Posted October 2, 2007 Report Share Posted October 2, 2007 Russ Why didn't you ask him? Anyway JT - means you both own 100%, if you default the lender can chase either of you for 100% TIC - means you own 50% each, if you default the lender can chase either of you for only your half - 50% There's also tax and estate planning around using these for which you should seek professional advice. cheers Link to comment Share on other sites More sharing options...
russ295 Posted October 2, 2007 Author Report Share Posted October 2, 2007 Why didn't you ask him? it came in a letter and he usually takes 2 days to answer phone calls, thought i'd get a quicker response here. russ Link to comment Share on other sites More sharing options...
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