The Property Protection Trust
Protecting your property from local authority assessment to pay for long term care fees, debtors, future divorces and other predatory third parties.
When considering a Property Protection Trust (PPT) it is important to be able to distinguish the difference between tenants in common (TiC) and joint tenants (JT).
In short both tenants in common and joint tenants refer to how a property is held or owned and this ‘ownership’ is registered with the Land Registry. Traditionally, when houses were purchased, the owners would have been registered as Joint Tenants. This would have meant that if one tenant died, the other tenant would have inherited the property by virtue of survivorship.
What tenants in common means is that people are able to sever the tenancy on a property and their ‘share’ can be gifted via their Will.
*The information provided has been based on a married couple.