Hegarty
By Cara Watson
April 15th, 2024
What you should know about leaving your home —or any property, be it land or buildings, that you own in the UK— to someone in your will…
Drawing up a will is a significant first step in managing your estate and ensuring your assets are distributed according to your wishes after you pass away. One of the most substantial assets you might own is your home, and deciding to leave it to someone in a will is a decision that requires careful consideration.
Any property that you own in the UK, be it land or buildings, can be bequeathed to someone in your will. However, the way in which you own the property impacts how it can be passed on.
For those who own property as a ‘joint tenant’—a common arrangement among married couples and civil partners—each owns an equal share of the property. In this case, when you pass away, your share is automatically transferred to the surviving co-owner. This situation leaves no room for alternative choices through a will. So, you can’t decide to leave your half of the property to your children or grandkids. The only situation where this would be possible is if the property is held as ‘tenants in common.’ In this scenario, you can decide who inherits your portion of the property, potentially including your spouse or partner, and this choice remains effective until their passing.
