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HMRC internal manual

Trusts, Settlements and Estates Manual

Ownership and income tax: legal background: joint ownership - general

Legal ownership

Property may be held in joint names, so that there is more than one legal owner - for example, property held in the name of ‘A and B’. A and B are the legal owners.

Beneficial ownership

In England and Wales property held in joint names may be held beneficially in either of two ways:

  • as joint tenants
  • as tenants in common

The beneficial ownership position in each type is as set out in the following sections.