There are two distinct forms of joint ownership; joint tenancy and tenants in common. Here we take you through both and detail any specific documentation that will be required.
If you’re joint tenants, you’ll both own the entirety of the property and have a 100% stake in its value. As you own it completely together you effectively act as a single owner and you’re viewed that way legally. This means that it can’t be sold without the agreement of both parties and if one of you passes away it will automatically go to the other person.
When married couples buy a property together they’ll usually opt to be joint tenants. It’s also the preferred option of most unmarried couples where there are no unmarried children from previous relationships.