Generally yes, but not necessarily. When someone takes out a home reversion plan it effectively creates a life tenancy – where the planholder becomes a tenant, or leaseholder for life. However, life tenancies (which are sometimes also known as lifetime leases or home for life plans) may be created in other ways, such as with the purchase of a new property, or they may pre-date what are now known as home reversion plans. If you have specific queries it may be helpful to speak to the solicitor that acted for you in the creation of your life tenancy, or we will do our best to point you in the right direction.
I’m in a life tenancy. Is that a home reversion plan?
