Hi everybody.

[hoptimist]

I am elderly now and may buy a house with my son and his family. Of what should we be aware? May we both be on the title deeds?

[Amethyst]

Yes. You will need a Deed of Trust between you and register the property as tenants in common rather than joint beneficial tenants.

The deed of trust will define how much of the property is owned by each party.

Your conveyancer and solicitor will be able to help you with this.

Joint tenants

As joint tenants (sometimes called ‘beneficial joint tenants’):

• you have equal rights to the whole property
• the property automatically goes to the other owners if you die
• you cannot pass on your ownership of the property in your will

Tenants in common

As tenants in common:

• you can own different shares of the property
• the property does not automatically go to the other owners if you die
• you can pass on your share of the property in your will