Change of tenancy under Scottish law is known as 'Evacuation of
Special Destination' whilst under English law it is called 'Severance
of Tenancy'. Although the terminology differs, and the documentation
is different the actual outcome is the same.
The majority of homes in the UK today are owned as ‘Joint
Tenancy’. This means that when a partner dies their
share of the property automatically passes to their partner by the
The use of an Evacuation or Severance document changes the definition
of the tenancy of the property from ‘Joint Tenants’
to ‘Tenants in Common’. Your home is
still owned by you both, however its’ value is now split into
two distinct and separate halves.
On the death of the first partner the trustees (remaining partner)
can now choose if they so wish to place half the value of the property
in trust for the children through the ‘Will Trust’.
The potential benefit is half the value of your home can pass directly
to your children and is therefore a potential saving in Inheritance