Plain English guide to protecting your interest in a property

When you purchase real estate with a partner or spouse there are two ways in which your ownership of the property may be described: you can hold the property either as joint tenants, or as tenants in common.

The way in which you own the property, as stated in the contract for sale, will then determine how your interest in the property will be affected in the event of a relationship breakdown or the death of one of the parties.

Unfortunately, many couples do not give enough thought as to how they would like to own a property with their partner/spouse. If you are considering buying a property with your partner or spouse, you may want to discuss your ownership options first, before the excitement of the purchase process takes over!