What is 'Tenants in Common' vs 'Joint Tenants'?

When buying real estate in Queensland, the way your name appears on your deed directly influences who receives the property after you pass away. Let’s break down the two most common types of co-ownership.

Joint Tenants

This is the most common way married couples own property.

When you own a property as Joint Tenants, you and the other owner(s) both own the entire property together at the exact same time.

If one joint tenant passes away, their interest in the property automatically transfers over to the surviving owner. This is known legally as the Right of Survivorship.

Important: Your Will has no power over property held as Joint Tenants. Even if you explicitly leave your 50% share of a Joint Tenancy property to your children in your Will, the property will automatically go back to the surviving co-owner regardless.

Tenants in Common

When you own a property as Tenants in Common, there are distinct defined shares. For example, two owners may own 50% each, or they might own varying shares like 75% and 25%.

If one of the owners of a Tenants in Common property dies, their share goes directly into their estate to be distributed according to their Will. It does not automatically go to the surviving co-owner. This type of ownership is very popular among blended families, business partners, or friends investing together, as it protects their specific asset interest for their individual beneficiaries.

Further Listening

We discussed how property is held as Joint Tenants vs Tenants in Common in the Legal Matters: Wills & Estates episode . This topic also featured prominently in the Legal Matters: Blended Families episode , where Andrew Bell explains how property title directly affects your children’s inheritance in a blended family.

If you suspect you might need to adjust your property title or draft a new Will to properly reflect your wishes, contact Bell & Senior today. Call (07) 5532 8777.