I wonder if anyone can help me understand the implications of changing our ownership of the house to Tenants in Common? We are currently joint tenants. If I do this, and my partner goes into residential care, and then I want to sell up and move to a smaller house, will I have to surrender her half of the sale proceeds to pay for care costs? This would leave me with insufficient funds to buy myself a new place. What would the situation be if we kept the joint tenants arrangement?
This is a real future scenario, as this terrace house is much too big for me on my own - but flats or bungalows cost almost as much, or more, than this house will fetch.