Deed of Severance
The way you co-own your home with your other half really matters.
If you are a couple and you own your house together, your co-ownership will have been registered in one of two ways – either as “joint” owners, or owners “in common”.
The way your co-ownership has been registered is crucial to the effect of your will.
If you are “joint” owners, when the first of you dies, the other will automatically become the sole owner of the house, irrespective of what your will says. This the “Right of Survivorship”.
If you are owners “in common”, however, it’s like owning shares in a company. Your shares in the house are yours to leave according to your will as you see fit.
Consequently, you can achieve a lot more with your wills if you own your house “in common” rather than “jointly”.
If you leave your house in “joint” ownership, that can have unintended consequences for your will, as happened in the story of Ebenezer Aregbesola that we have shared in our blog.
Most married couples, however, are automatically registered as “joint” owners of their home.
If you are “joint” owners, you can convert to ownership “in common” relatively simply, by making a Deed of Severance and registering it at the Land Registry.
The cost of making and registering a Deed of Severance is £135. It is also included with the Family Trust Will, which is in turn included in our Testamentary, Intermediate and Comprehensive Estate Plans.
Family Trust Deed
How to put a ring of steel around your family's assets.Read more...
Family Trust Will
Preserving your Assets for your FamilyRead more...
Memorandum of Wishes
Memorandum of wishesRead more...
Deed of Severance
The way you co-own your home with your other half really matters.Read more...
Advance Directive, or Living Will
Staying in control of your life choicesRead more...
Storing your Will
Keeping your Will and Other Documents Safe and ValidRead more...
Updating your Will
Your Will is only fit for its purpose if it's up to date.Read more...
Lasting Power of Attorney for Health and Welfare
It's your life - make sure it's you who always decidesRead more...
Lasting Power of Attorney for Property and Financial Affairs
Lasting Power of Attorney for Property and Financial Affairs - Planning Forward to Stay in ControlRead more...
Easy access to legal help at controlled cost.Read more...
Traditional Wills are a straightforward, cost-effective way forwardRead more...
Traditional Estate Plan
An efficient way to protect yourself in later life and protect your legacyRead more...
Traditional Plus Estate Plan
Taking Care of your legacy, your lifestyle and your finances with our Traditional Plus Estate PlanRead more...
Family Trust Estate Plan
Protecting your assets in every eventuality.Read more...
Family Trust Plus Estate Plan
A robust way to protect yourself and your family, whatever may happen..Read more...
Family Trust Extra Estate Plan
Every eventuality taken care ofRead more...
Subscribe for Updates & Information
"Recent life events brought home to me the importance of making sure that my beautiful grown up daughter, who is my pride and joy, is well provided for. After a very in-depth consultation, during which my circumstances were considered from all angles, a carefully tailored estate plan was prepared for me, which addressed all my concerns fully. As a result, I am now confident and reassured that my assets are safe from erosion and that my daughter’s future is secure."