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Posted Sat, 27 Apr 2024 12:55:02 GMT by MARY
I own one property with my son as joint tenants, not tenants in common. We have decided that I would take all the rent. Does this agreement have to be in writing and if so can my son and I write up an agreement ourselves and sign it or does it have to be done by a solicitor?
Posted Wed, 01 May 2024 08:09:44 GMT by HMRC Admin 19 Response
Hi,

You can see information about joint tenants here:

TSEM9210 - Ownership and income tax: legal background: joint ownership - joint tenants

As it is your choice how the rental income is split, it is up to you whether you want to make a written agreement for this to be signed by yourself and son. You may choose to do so should any issues arise in the future. 

Thank you.

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