| by Kenneth Chase | No comments

Wills Month Mythbusting – What happens to jointly owned property?

So, how do wills work with joint ownership of a property? The answer might surprise you. True or false? If two people jointly own a house and one of them dies, their share of the house will pass to whoever they’ve named in their will. 59% of New Zealanders think this is true. In fact, it’s false. Joint ownership of a property is governed by a law called survivorship. Despite what your will might say, when someone who owns property jointly with someone else dies their share goes to the surviving joint owner. The will doesn’t even come into it. So this myth about wills is busted. Why not learn more about wills by taking our Mythbusting Quiz and go in the draw to win a $100 Prezzy card. Good luck!

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