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