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I need more information about Declaration of Trust

A Declaration of Trust reflects the ownership of a property and the proportions contributed by each party.

The aim of this document is to protect the beneficial interests of all parties who have contributed to the purchase of a property whether or not they are named on the legal title, for example, if you are a parent who will be contributing to the balance of  the deposit for your child’s first home.

A Declaration of Trust is particularly useful when making unequal contributions to a property and will show how the sale proceeds are to be divided between the parties when the property is sold.

A Declaration of Trust should ideally be drafted before completion of the property takes place so it is ready to be signed on this date.  However, it is possible to make a Declaration of Trust at any time after the purchase of a property.

Whilst the Declaration of Trust makes clear the shares which each party owns in a property, it is important to make a Will to ensure your share of the property passes to your chosen beneficiaries.

At Hepburn Delaney, we offer an initial meeting which enables you to meet with us to talk about what help you require and to decide whether we are the right solicitors for you. We can usually agree a fixed fee for completing your Declaration of Trust.

 

To contact us, please:

Call us on 01442 218090

Send an email to info@hepburndelaney.co.uk

Click on the link to the right and Contact the Wills and Probate Team

The Basics

A Declaration of Trust reflects the ownership of a property and the proportions contributed by each party.

The aim of this document is to protect the beneficial interests of all parties who have contributed to the purchase of a property whether or not they are named on the legal title, for example, if you are a parent who will be contributing to the balance of  the deposit for your child’s first home.

A Declaration of Trust is particularly useful when making unequal contributions to a property and will show how the sale proceeds are to be divided between the parties when the property is sold.

The Advice

A Declaration of Trust should ideally be drafted before completion of the property takes place so it is ready to be signed on this date.  However, it is possible to make a Declaration of Trust at any time after the purchase of a property.

Whilst the Declaration of Trust makes clear the shares which each party owns in a property, it is important to make a Will to ensure your share of the property passes to your chosen beneficiaries.

The Costs

At Hepburn Delaney, we offer an initial meeting which enables you to meet with us to talk about what help you require and to decide whether we are the right solicitors for you. We can usually agree a fixed fee for completing your Declaration of Trust.

The Next Steps

 

To contact us, please:

Call us on 01442 218090

Send an email to info@hepburndelaney.co.uk

Click on the link to the right and Contact the Wills and Probate Team