07/04/2026
Understanding Property Ownership Structures
There are different types of property ownership structures in New Zealand, however, the two main types generally used are Joint Tenants and Tenants in Common.
Joint Tenants:
Under a joint tenancy, two or more people own the property equally and together.
Key features include -
✅ Each owner holds an equal share of the property
✅ There is a right of survivorship—if one owner passes away, their share automatically transfers to the remaining owner(s), regardless of any will
✅ Commonly used by couples (especially spouses).
✅ All owners must act together when making decisions about the property (e.g., selling or refinancing)
Tenants in Common:
Under a tenancy in common, two or more people own the property in separate, defined shares, which may be equal or unequal.
Key features include -
✅ Ownership shares can be customised (e.g., 50/50, 70/30, etc.)
✅ There is no right of survivorship—each owner’s share forms part of their estate and can be passed on through a will.
✅ Often used by business partners, friends, or family members contributing different amounts.
✅ Owners can generally deal with their own share independently (subject to any agreements in place).
Summary:
Joint Tenants - Equal ownership + automatic transfer on death
Tenants in Common - Flexible ownership shares + passed on via estate
If you’re considering purchasing a property jointly with someone else, we recommend you seek help from one of our experienced Mortgage Advisers at Wayne Henry Mortgages.
The team are available to chat anytime.
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📞 0800 WHENRY
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