If 2 people own a property as Tenants in Common. Does this mean that one of them can sell their half to?
someone else? I am in the UK.
- sheila.taylor84Lv 41 decade agoFavorite Answer
Direct quote from Conveyancy Handbook (1998/99).
If land is owned by more than one person, the legal and beneficial interests in it are separated. The co-owners will hold the legal interest in property in trust; their beneficial interests can then be held either as tenants in common or joint tenants.
If the owners opt for a joint tenancy, then they each own the whole of the beneficial interst, which means that the survivor of them will have an automatic right to the property on the death of the other (s).
Under a Tenancy in Common, each Tenant in Common owns a specified share of the beneficial interest, which can be left by Will or dealt with under the rules which apply to intestacy.
What you need to consider is your mortgage if applicable. You would need to consult with your Lender to sell your share I would think.
Hope this helped.
- coragryphLv 71 decade ago
Yes -- tenants in common can sell their partial ownership to someone else.
From what I understand of English property laws -- there are some limitations (by contract, or in the title deed) that can be placed on transfers -- but the general rule is that the transfer is allowed.
- 1 decade ago
tenants in common are different than joint tennants, in that a tenant in common can sell their share without the permission of the other owner, joint tenancy requires that the other owner of the property must give their prior consent either by signing the deed of transfer or giving a declaration stating that they consent to the sale of the property.Source(s): Land Registry employee
- cadsazLv 41 decade ago
Heres is my explaination on the two forms of co-ownership;
Under a joint tenancy the principles of ‘totum tenet et nilhil tenet’ – “each holds everything and yet holds nothing” applies. Joint tenants are regarded as collectively the single owner, a single legal entity. Joint tenants individually hold nothing “but each entitled to the whole ”, however they do have rights exercisable against one another.
The right of survivorship (ius accrescendi) only operates in joint tenancy. When one joint tenants dies his interest will pass to the surviving joint tenants; s.184 LPA 1925. This process will continue until only one joint tenant remains. At this point he becomes the sole owner, independently entitled to the land.
A joint tenant cannot sever his interest by will under s.184 , his interest automatically passes to the surviving joint tenants, and they are under no duty to pay death duties to the deceased’s estate . The interest the surviving joint tenants receive “is only in the sense that on sale their share will be higher” .
Co-owners can avoid the rules of survivorship by serving their joint tenancy thus converting it into a tenancy in common. This only applies in equity; one cannot sever a legal joint tenancy – s.36 (2) LPA 1925.
Tenants in common are recognised as having undivided shares in the land.
A tenancy in common only requires the unity of possession, the right of survivorship does not exist. Thus one may leave his interest to another outside of the trust.
One may convert his joint tenancy to a tenancy in common by way of severance, which is permissible in equity under s.36 (2) LPA 1925 as amended by Sch. 2 TLATA 1996.
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- Anonymous1 decade ago
no you will require each others permission normally