Tenants in common

[Absentia]

does anyone have any experience of changing from joint owners to tenants in common? I'm wondering whether to do this to protect myself should my husband need to go into care and then I want to move house.

 

[Liepy]

You should be ok anyway. Changing to joint tenants would protect your share of the house as inheritance though if you were to will it to anyone other than your spouse. If you move house any profit left over would be split between you and your spouse if he is in care

 

[Absentia]

You should be ok anyway. Changing to joint tenants would protect your share of the house as inheritance though if you were to will it to anyone other than your spouse. If you move house any profit left over would be split between you and your spouse if he is in care

Thanks. I see that this is the guidance but I was worried that this might change.

 

[marionq]

If you are tenants in common and you die first the share you leave could go to your children and not to your husbands care. You can of course will your share to anyone you like including your husband if you want it to go towards his care.

If you need to downsize or change houses while he is in care then th property continues to be owned by you both with any surplus of cash divided between you.

 

[Pete R]

If you need to downsize or change houses while he is in care then th property continues to be owned by you both with any surplus of cash divided between you.

If you move house any profit left over would be split between you and your spouse if he is in care

I am afraid it is not as simple as that. The joint owner/their PoA would have to agree to the use of their share/part share being used for any new property.

There is also no guidance in the CA2014 to whose name any new property should be in.