Severance of Tenancy
Notice of Severance would be given if a couple that own their home as Joint Tenants, opted to change the type of ownership to Tenants in Common.
There are several advantages to owning your home in this way (as well as a few potential disadvantages) and you can read more about it here
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The cost options for giving Notice of Severance are shown in the following table;
| Service | Per Case |
|---|---|
| Notice of Severance | £95 |
VAT is not chargeable.
These costs are paid in addition to the costs of preparing a Will, if required.
What if the Owners Don't Agree?
Obviously, everyone's circumstances are different, and, in some cases, owners may not agree about the change of ownership. However, Notice of Severance can be given by a Joint Tenant, whether the owners agree or not.
Should you find yourself in such a situation, we'd definitely suggest that you speak to us, in the first instance, so that we may offer the best advice for you, in light of the circumstances.