A survivorship destination is a clause that can be found in a title deed when a property has been purchased by more than one person. The most common use of a survivorship destination is when a couple buy their home together. The wording of the clause is that the co-owners own the property 'equally between them and to the survivor of them'. This means that upon the death of one of the owners, their interest in the property automatically transfers to the other owner.
Should you predecease your co-owner, the nature of the survivorship destination means that your interest in the property will pass automatically to the surviving title holder without the need for any formal conveyancing. Importantly, this will occur whether or not you have a will in place at the time of your death. Survivorship destinations defeat the express provisions contained in a will, even if the will was drafted after the purchase of the property.
A survivorship destination cannot be revoked unilaterally and will require agreement by the title holders to enabled it to be legally discharged. It remains intact upon the separation of a couple which can have drastic and unintended consequences for those who buy a property together but later separate. Unless the survivorship is expressly and correctly discharged, then the deceased's share in the property will always transfer to the other owner via the survivorship destination, even if there is a will naming another party as beneficiary.
If you have a survivorship destination in your property title and the person who would receive your interest is not the person you would now wish to benefit, it is best to take immediate legal advice as to how it can be discharged.
This article first appeared in The Times.
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Senior Solicitor
