If you own your property jointly with someone else, it will either be owned as Joint Tenants or as Tenants in Common. If you die and would like your share to pass directly to the joint owner, Joint Tenants would be the most appropriate way to hold the property. However if upon your death you would like your share of the property to enter your estate to be distributed by your Will (to someone other than the Joint Owner or to an appropriate Trust for asset protection post-death) then you would need to own the property as Tenants in Common.
The Severance of Tenancy fee of £100 + VAT includes our Land Registry search fee of £20 + VAT. If you choose to purchase this product we will conduct a Land Registry search to check that you do not already own the property as Tenants in Common and if it transpires that you do, we will provide you a refund of the money paid, minus the Land Registry search fee of £20 + VAT.
Once purchased, one of our consultants will contact you to schedule a time to confirm which property you would like to sever and then draft the appropriate Severance of Tenancy documents from there before completing the Severance of Tenancy with the Land Registry once the documents are signed.