Married Tenants in common, what's will happen if ?

[BoJosHair]

Recently came across another post asking something similar so it got me thinking.

My husband and I are Tenants in common. I remember doing the paperwork and being unsure about this bit and ticking the tenants in common part and not joint owners (We were rushed for time and the solicitors were generally slow in getting back to us), I can recall searching online but not finding much information at the time.

I wanted to know what would happen If either one of us passed, who would the share go to? Would it go to our next of kin? Who would that be? Our child or our parents? Or as we are husband and wife would it go to the other person that's still alive.

If anyone can share any advice or knowledge it'll be greatly appreciated.

www.gov.uk/inherits-someone-dies-without-will

This is helpful. Make a will, then you can control what happens

As an aside. Yes to making a will, but if you have life insurance please make sure it's in trust.

It will go to your child in the absence of a will. If either of you want to leave it to each other you'll have to state that on your will because tenants in common mean that won't automatically happen.

@justnotnow1

It will go to your child in the absence of a will. If either of you want to leave it to each other you'll have to state that on your will because tenants in common mean that won't automatically happen.

Why would it go to a child? I thought that the first £250,000 of an estate goes to your next of kin- next of kin when married is husband or wife.

It’s £270k

The whole point of buying as tenants in common is to split the asset between you & therefore you can each leave your share to whoever you wish in your will. The alternative, joint tenants, means regardless of whether you leave everything else to the cats home, the house will always go to the other joint tenant. However, if you are married & have no will, as your next of kin your spouse would still inherit your share if held as tenants in common, up to £270k as per pp link.