Q&As

Can a surviving joint tenant of a property sever the joint tenancy by means of a deed of variation which achieves the inheritance tax treatment in section 142 of the Inheritance Tax Act 1984? If so, do you have a precedent document?

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Published on: 06 August 2019

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Section 142 of the Inheritance tax Act 1984 (alteration of dispositions taking effect on death) is sufficiently wide to enable a Joint tenancy to be severed for inheritance tax purposes by means of a Deed of variation (emphasis added):

‘142 Alteration of dispositions taking effect on death
(1) Where within the period of two years after a person’s death—
(a) any of the dispositions (whether effected by will, under the law relating to Intestacy or otherwise) of the

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Jurisdiction(s):

United Kingdom

Key definition:

Joint tenancy definition

What does Joint tenancy mean?

Ownership of property by two or more persons where the survivor is wholly entitled to the property.

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