Maurice Cummins (Fine Gael)

I move amendment No. 16:

In page 27, between lines 36 and 37 to insert the following:

28.—Where a co-ownership is to be established, it shall be established as a tenancy in common and no joint tenancy shall be created unless—

(a) it is the stated intention of all parties to the co-ownership to create a joint tenancy, and

(b) each party to the co-ownership has signed a declaration to the effect that he or she understands—

(i) the difference between a tenancy in common and a joint tenancy,

(ii) that the creation of a joint tenancy means that, upon his or her death, his or her interest in the land passes automatically to the surviving co-owner(s), and

(iii) that a joint tenancy cannot be severed other than in accordance with section 28.".

This was discussed at length on Committee Stage. I believe many joint tenancies are unintentionally created by buyers as they unaware of the consequences of their actions in this respect. The amendment would not make the creation of a joint tenancy any more difficult but it would ensure informed decisions by buyers. With the increased measures laid out in section 28, it would be more difficult for joint tenants to sever a joint tenancy or convert it to a tenancy in common. This should be accompanied by the increased safeguards against purchasers making decisions on the basis of misconceptions. I read the debate on Committee Stage and the points made by Senator Tuffy so I am interested in hearing the Minister's opinion.