Joint Tenant with a tenant in commongreenspun.com : LUSENET : Repossession : One Thread
My ex and I own a property as Joint Tenants. If he releases his portion to someone else, they become a Tenant in Common. How does that affect my interest? If I die, do the Tenant in Common own the property solely? What about my children? If the Tenant in Common dies, where do I stand?
-- Lestine (email@example.com), August 11, 2001
go see a solicitor/attorney... this isn't on the menu at this website.
-- (firstname.lastname@example.org), August 14, 2001.
Firstly he cannot release 'his'half as you are joint and severeal and the mortgage will be written as you both as joint tenants.This cannot be changed without changing the terms of the mortgage deed which will require your consent.Lenders do not like tenants in common arrangement and it tis doubtful assuming there is a mortgage that it can go ahead.Yes as my friens says see a solicitor
-- roger watts (email@example.com), August 15, 2001.