Meet the Other Phone. Flexible and made to last.

Meet the Other Phone.
Flexible and made to last.

Buy now

Please or to access all these features

Money matters

Find financial and money-saving discussions including debt and pension chat on our Money forum. If you're looking for ways to make your money to go further, sign up to our Moneysaver emails here.

Tenants in common, good idea when buying a house & you have children from previous r/ship?

3 replies

mrsmike · 26/11/2007 14:17

What do people think about this? Is it a good way to safeguard your children's inheritance if you die, in case the existing person marries again?

I thought it was a good way round this potential problem, as you can have something saying the living partner can remain in the house till they die (called a lifetime interest or something?) but DH worried about this, thinks it could be revoked (by me if we fall out?) & he would be turfed out. I am no expert here, it's all v confusing, any wise words appreciated

OP posts:
Freckle · 26/11/2007 14:23

If you both own the house, then one cannot turf the other out regardless of whether you are tenants in common or joint tenants.

Tenants in common is a good way of safeguarding the inheritance of your children. You can grant your spouse a lifetime interest in the property and, even if you fall out and revoke that aspect of your will, he would still be able to stay in the house until it was sold.

mrsmike · 26/11/2007 14:35

Thank you. I think he is worried that we could fall out and this lifetime interest would be revoked and the house would have to be sold - but that could happen if we were joint tenants anyway? Really appreciate your thoughts by the way, thanks.

OP posts:
Freckle · 26/11/2007 17:27

If you fall out and divorce, all provisions in wills relating to spouses are revoked anyway. And one assumes you'd be selling the house in any event.

New posts on this thread. Refresh page
Swipe left for the next trending thread