Republic of Ireland Law
Republic of Ireland Law Questions Answered by Experts
1. I would recommend a tenancy in common and not a joint tenancy as the method upon which to hold the new house. The existence of a joint tenancy can work injustice if there are any children of these current children. Should there be a tenancy in common, there is no abrogation of the property rights of an existing child upon death. Additionally, you cannot raise a mortgage upon a joint tenancy and if one does, this automatically has the effect of severing the joint tenancy and bringing it to an end. So if any of the children have financial difficulty and need to raise money, then the joint tenancy will be ended anyway. So I would suggest just using a tenancy in common from the outset.