Mark McLaughlin ponders a common question, particularly in relation to the joint ownership of property by spouses or civil partners for inheritance tax purposes.
Homeowners (as well as owners of other properties) are often asked by their inheritance tax (IHT) advisers whether the property is jointly owned (most commonly with their spouse or civil partner), and if so, whether the ownership is as joint tenants or tenants-in-common.
It is important to understand the distinction between these two types of property ownership, and the IHT implications of each.
