Property lawyers at Pindoria Solicitors are very experienced in a breadth of property matters, including drafting and executing declarations of trust. Declarations of trust are of increasing importance in modern society where prices of property are continually increasing and so it can be difficult for two or more individuals buying property together to make equal contributions. With the tool of a declaration of trust there is still the ability for the property to be held equally despite unequal contributions in the purchase price. This is particularly useful in planning for the future, should the relationship between the individuals breakdown or in the event of death. Declarations of trust provide clarity about how proceeds of a property are to be split if the above is to occur.
The Declaration of Trust will deal with:
- Unequal contributions in the purchase price
- Contributions from parents or other members of family
- Mortgage payments
- Option to Purchase
The Declaration of Trust should protect third party interests in the proceeds of sale of the property by the registration of a restriction at the Land Registry.
Please contact our lawyers for more details about Declarations of Trust and a fixed fee quote.