Types of ownership – related terms

Flying freehold Where a property owner owns an area of property at first floor level or above but
does not own the ground floor area underneath it.
Joint tenants Where two or more persons buy a property they will either be joint tenants or
tenants in common (whether the property is Freehold, Leasehold or Commonhold).
Where property is held on a joint tenancy, if one owner dies the property passes to
the other owner(s) automatically, regardless of the terms of any Will.
Tenants in common See Joint Tenants above. If the property is held as Tenants in Common, each Buyer
owns their own share of the property, which can only be passed on by assignment,
under their Will, or the intestacy rules if they have not made a Will.

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