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Declaration of Trust Solicitors

declaration of trust solicitorsIf you are considering having a Declaration of Trust prepared, our experienced team of Declaration of Trust Solicitors can assist you throughout the entire process and ensure your interests are protected and wishes adhered to.

A Declaration of Trust, sometimes called a Deed of Trust, is a legally binding document that records the financial arrangements between joint owners of a property. The aim of the declaration is to record each person’s initial contribution to the property, their ongoing financial responsibilities, and what will happen should the property be sold or if one person wants to be bought out.

You may want to consider creating a Declaration of Trust in the following circumstances:

  • If you are buying a property and are cohabiting but unmarried
  • If you are buying property with a friend or business partner
  • If you are buying using money you have been lent by a friend or relative

In these cases, a Declaration of Trust can protect your interest in your property. The declaration records how much each person has contributed to the deposit for the property (including people who are not living in the property, for example parents providing a loan or gift as a deposit), how much each person should contribute to mortgage payments, and how shares will be divided should the property be sold off.

A Declaration of Trust also acts as a true account of ownership, superseding mortgage and land registry records. When couples contribute different amounts to the deposit, parents loan their children money for a deposit, or when one party is prevented from having their name on the mortgage (for example if they already have a mortgage on another property), then a Declaration of Trust can safeguard these parties’ interests and ensure that in the event of a relationship breaking down or some other unforeseen eventuality, that any ambiguity will be avoided.

Our experienced team of Declaration of Trust Solicitors act for clients throughout the UK. In addition to office meetings, we offer remote consultations via video conferencing software such as Microsoft Teams and Zoom.

If you are considering making a Declaration of Trust please call us on 0800 086 2929, email or complete our Free Online Enquiry Form to arrange a free, no-obligation discussion with one of our expert Declaration of Trust Solicitors.

When should a Declaration of Trust be created?

There is no specific time that a Declaration of Trust should be made, but we would advise doing so as early as possible into property ownership. You never know what might happen in the future, and a Declaration of Trust provides valuable insurance against any unforeseen disputes or disagreements.

A Declaration of Trust is a legally binding document that changes the ownership of a property, and as such it should not be made lightly. You should make sure that all parties – both registered and true owners – are in agreement about the declaration, and that everything contained within is accurate, especially when it comes to proportions of ownership. There are no set rules on what to include in a declaration, and we would advise contacting an experienced and knowledgeable legal expert for advice and guidance on how to create a declaration that meets your specific needs.

How our Declaration of Trust Solicitors can help

Our experienced team have helped many couples, friends, and business partners protect their money with a Declaration of Trust. We understand that every situation is different, and so every Declaration of Trust should be a bespoke agreement tailored to your needs and sensitive to your circumstances.

If you are looking at purchasing a property, or lending someone else the money to do so, and are interested in finding out how a Declaration of Trust could work for you, please get in touch.

Our experience includes preparing Declarations of Trust which ensure both initial and future contributions are accounted for and that the co-owners have ‘floating shares’ which reflect their ongoing financial contributions.  We have also prepared numerous declarations of trust to ensure funds parents are contributing towards the purchase of a property for their child are protected.

One of our experienced Declaration of Trust Solicitors will have an initial consultation with you, free of charge, to discuss your situation in more detail. Once we understand your circumstances better, we can provide you with a clearer understanding of how we can help you.  We will also provide you with a price quotation and a choice of funding methods at the outset.

Contact our Declaration of Trust Solicitors

Call 0800 086 2929, email or complete our Free Online Enquiry Form to arrange a free, no-obligation discussion and let one of our experienced Declaration of Trust Solicitors explain your legal rights and options.

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