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Ask Buachaill Your Own Question
Buachaill
Buachaill, Lawyer
Category: Republic of Ireland Law
Satisfied Customers: 10189
Experience:  Barrister 17 years experience
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Will was settled when a parent died everything left to

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Will was settled when a parent died everything left to children with the Will given life residence in family home for 1 child and all cash to 1 other child with house left to all children. estate contested 1/3 of all estate went to stepfather out of court settlement when the house was sold, now a house has been bought with the rest of proceeds from sale of the home and cash. Which type of ownership -Joint ownership and tenancy in common would best suit child who had life tenancy in the Will, would tenancy in common give a greater share of ownership to the children with life resident and cash from the Will or would be joint ownership be more practical and secure for life resident child who is the priority in the ownership
Submitted: 1 year ago.
Category: Republic of Ireland Law
Expert:  Buachaill replied 1 year ago.

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.

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