A Declaration of Trust is a vital legal document that sets out the ownership interests in a property held by two or more individuals. Whether you are purchasing a home with a partner, family member, or friend, or providing financial assistance for a property purchase, ensuring clarity over who owns what is essential. At The Law Firm Group, our experienced solicitors provide tailored advice and expert legal services to help you safeguard your interests with a professionally drafted Declaration of Trust.
What Is a Declaration of Trust?
A Declaration of Trust, sometimes called a Deed of Trust, is a legally binding agreement that records how the ownership of a property is divided between two or more parties. It can clarify each person’s financial contribution to the purchase price, outline responsibility for mortgage payments, and detail how proceeds will be divided if the property is sold in the future. This document is especially important when the property is held as tenants in common, rather than joint tenants.
When Might You Need a Declaration of Trust?
There are many situations where a Declaration of Trust offers security and peace of mind. Common scenarios include:
Unmarried couples purchasing a home together, where contributions to the deposit or mortgage are unequal.
Family members helping a relative onto the property ladder and wishing to record their investment.
Friends or investors jointly buying a property as an investment or for shared living arrangements.
Parents providing funds for a child’s property purchase and seeking to protect their contribution.
Remortgaging or changing ownership shares at a later date.
Without a Declaration of Trust, disputes over ownership can arise if circumstances change or if the property is sold. Our UK solicitors can help you avoid uncertainty and future conflict by ensuring your interests are clearly documented.
How The Law Firm Group Can Help
At The Law Firm Group, our specialist solicitors have extensive experience preparing Declarations of Trust for clients across the UK. We provide comprehensive legal advice tailored to your unique situation, ensuring your agreement reflects your wishes and stands up to scrutiny.
Our approach is straightforward and client-focused. We take the time to understand your objectives, explain your options in plain English, and guide you through every stage of the process. With our support, you benefit from clarity, efficiency, and transparent costs.
Our Declaration of Trust Legal Process
When you instruct The Law Firm Group, you can expect a clear, step-by-step service:
1. Initial Consultation: We begin with a confidential discussion to understand your circumstances, financial contributions, and the arrangements you wish to record. If you already own the property, we review the title documentation and any mortgage details.
2. Drafting the Declaration of Trust: Our solicitors prepare a bespoke agreement, tailored to your requirements. This may include details such as the percentage each party owns, who will pay for repairs or improvements, and what should happen if one party wishes to sell.
3. Review and Amendments: We share the draft agreement with you (and, if appropriate, with the other parties involved), providing clear explanations and making any necessary adjustments.
4. Finalisation and Execution: Once everyone is satisfied, we arrange for all parties to sign the document. Our team ensures the Declaration of Trust is properly executed and, where relevant, can help to register it with the Land Registry.
5. Ongoing Support: Should your circumstances change in the future, The Law Firm Group is on hand to advise on amendments or to assist with related legal services.
Common Issues and How We Resolve Them
Disagreements can easily arise when property ownership is not clearly recorded. For example, if one party has contributed more to the deposit or pays a larger share of the mortgage, it is crucial that this is reflected in the ownership split. Other common points of contention include responsibility for maintenance costs, what happens if one owner wishes to sell, or how to handle gifts or loans from relatives.
Our experienced UK solicitors are adept at identifying potential areas of dispute and ensuring your Declaration of Trust addresses them clearly. We help you avoid ambiguity and future misunderstandings, providing both peace of mind and legal protection.
Benefits of a Professionally Drafted Declaration of Trust
Engaging The Law Firm Group to prepare your Declaration of Trust delivers a range of client benefits:
Clarity and Certainty: Your agreement is drafted to accurately reflect your intentions, removing any ambiguity.
Legal Protection: A properly executed Declaration of Trust can be relied upon should a dispute arise.
Efficiency: Our solicitors work swiftly and efficiently, so your transaction is not delayed.
Transparent Costs: We provide clear, upfront pricing for our legal services, with no hidden charges.
Ongoing Support: If your circumstances change, our team is available to provide further legal advice or to update your agreement.
How to Get Started with The Law Firm Group
Working with The Law Firm Group is straightforward and accessible. To begin, simply contact us to arrange an initial consultation with one of our specialist solicitors. During this meeting, we will discuss your circumstances, answer any questions, and outline the next steps. We will request any relevant documents, such as details of your financial contributions or property title information.
Our team will then draft your bespoke Declaration of Trust and keep you informed throughout the process. We pride ourselves on clear communication, responsive service, and expert legal advice at every stage.
If you are purchasing a property with others, have contributed funds, or wish to protect your interests in a shared property, a Declaration of Trust is an essential step. Trust The Law Firm Group’s experienced solicitors to provide the legal expertise, support, and reassurance you need.
