What is the difference between joint tenancy and tenants in common in Australia?
Property in Australia can be owned two ways, and it changes what your Will can do. As joint tenants, when one owner dies their share passes automatically to the surviving owner and bypasses the Will entirely. As tenants in common, each person owns a set share, such as 50/50 or 60/40, and that share passes under the terms of their Will. If it passes under the Will, the estate usually needs a grant of probate before the share can be dealt with. Understanding how you hold property is critical to getting your Will right.
For related guidance, see who is entitled to see a will after someone dies in Australia?.
Read the video transcript
You can own property in Australia in two different ways. Joint tenants or tenants in common. Under a joint tenancy, if one of the co-owners dies, their share automatically passes to the other co-owners, completely bypassing their Will. Under tenants in common, you own a defined share 50/50, 60/40 or other proportions. And then when you die, your share of the property then passes under the terms of your Will. Depending on your intentions, it is often critical to ensure that you understand your property ownership when preparing your Will.
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