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ARTICLE · 26 SEPTEMBER 2023

How You Own Your Assets Does Matter!

Kalus Kenny Intelex
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Did you know that how you own property personally impacts how they are distributed on your death? There are two types of property ownership structures for assets owned personally where there are more than one owner...

AustraliaReal Estate and Construction
Henry Kalus
Henry Kalus
Rachel Fletcher
Rachel Fletcher

Did you know that how you own property personally impacts how they are distributed on your death?

There are two types of property ownership structures for assets owned personally where there are more than one owner – "joint tenants" or as "tenants in common".

When assets are owned as 'joint tenants', the owners (two or more) own that asset jointly. This means each owner has a 100% interest in the property.

On the other hand, the 'tenants in common' structure means that each owner co-owns the property in equal or unequal shares (ie each own 50% of the asset).

How assets are owned personally is particularly important where an owner is affected by death as each method of ownership results in a different outcome.

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