Head Office 01206 577 266 | Head Office Fax 08717 334 367 | Email us office@hdconsultants.net 
Most residential properties mortgaged and unencumbered are owned jointly by, two parties 50/50%. However there is an alternative way of owning them in a different form. To change the ownership there is a legal procedure that can be entered into. 
This is called “Severing the Tenancy” and when expedited is referred to as Tenants in Common as opposed to joint ownership. When completed it is lodged with Land Registry on their register. 
 
Such action may be used to protect your share of the asset on several counts:- 
• To shield your share from potential care home fees in the future. 
• To ensure your share is passed directly to your beneficiaries – potentially for your own family. 
• To support, the apportionment of any rental receipts, to a preferred party, as transparency for HMRC when submitting annual Tax returns. 
• Ownership can be adjusted in several ways e.g. 75/25% depending on your own circumstances and objectives. 
 
The list is not exhaustive and generally sits alongside a suitable Will or Will Trust as a belt and braces exercise. 
 
Can you be sure that your property/properties are owned and registered in the right form to suit your personal financial circumstances? 
 
Do you wish to step up and take responsibility for the future of safeguarding your family, their future and the distribution of your Estate? 
 
For a free financial and personal review of your Estate contact Caroline J Maguire, Financial and Trust Consultant on 07950 622375 or via email at caroline@hdconsultants.net 
 
Next time I will cover The use of Trusts in Estate Planning 
Tagged as: Estate Planning, Wills
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Head Office address; 109 Maldon Road, Colchester, Essex CO3 3AX (Administration Centre only) 
 
Your home may be repossessed if you do not keep up repayments on your mortgage. 
 
We normally charge a Professional Client Fee for mortgage advice. The amount will depend on your circumstances. A typical fee would be £500. The actual Professional Fee may be more or less than this, and is subject to a full Fact Find discussion and research process. H D Consultants is an Appointed Representative of PRIMIS Mortgage Network. PRIMIS Mortgage Network is a trading style of Personal Touch Financial Services Ltd which is authorised and regulated by the Financial Conduct Authority. Registered Office: Preston House, 163 High Street, Crowthorne, Berkshire, RG45 7AF. Registered in England & Wales. Company Registration Number 4952586. This site is for UK Consumers only. Website Terms and Conditions click here for our Privacy Policy. GDPR Privacy Policy - click here (PDF download / view) This site contains third party links. By clicking these links you will depart from the H D Consultants' regulated site. H D Consultants accepts no responsibility for the content of these sites.. The Financial Conduct Authority does not regulate some of the services listed. H D Consultants, mortgage and life insurance advisers, is authorised by the FCA no 403701. Our in house Wills and Trusts Practice is a long standing Member of the Society of Will Writers and Estate Planning Practitioners.  
FP Ref: 1425988 / 28.01.2021 
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