A Declaration of Trust is a legal document that clarifies the terms of ownership in cases where a property is jointly owned.
As the joint ownership of property offers a number of financial benefits, drawing up a Declaration of Trust can be an effective way of establishing and safeguarding the interests of those involved.
Where a Declaration of Trust is needed, Prettys’ team of specialist lawyers offers the legal expertise to do exactly that. Providing certainty and clarity regarding each owner’s financial interests, the agreement can help to significantly reduce the chances of disputes arising in the future.
A Declaration of Trust is particularly important when financial contributions are made unequally between prospective owners. No matter the circumstances, Prettys will guide you through the process, offering you peace of mind knowing that your interests are protected.
Specialist advice
Prettys offers the legal expertise needed to ensure the joint ownership of your property is backed by a clear legal agreement. Our specialist team offer advice in situations when:
- The Declaration of Trust is being entered into contemporaneously with the transfer, conveyance or lease of the property to the co-owners.
- The co-owners have held the property as tenants in common (see FAQs below) since the transfer, conveyance or lease of the property to them but have not yet declared the extent of their respective interests.
- The co-owners originally owned the property as beneficial joint tenants (see FAQs below) but the joint tenancy has been severed or is being severed by this deed and they now wish to declare their respective interests following the severance.
- Advice is required on Capital Gains Tax and Inheritance Tax implications of disposing of a share in the property.
- Advising on a Trust of Land, which is created automatically in cases where land is transferred to two or more individuals jointly. In this case, a Declaration of Trust confirms the existence of this Trust and sets out the proportions in which the co-owners hold their respective interests in the property.
For advice, or to learn more about the benefits of a Declaration of Trust, contact our team today.
Expert legal guidance
Prettys’ in-depth knowledge of property law ensures we are able to meet our clients’ legal requirements whatever their needs may be. Having helped countless clients, we ensure you benefit from the right legal guidance when preparing a Declaration of Trust.
Our service is focused on our key qualities of understanding, responsiveness, practicality and approachability. Tailoring our advice to suit your specific circumstances, we pride ourselves on offering solutions.
For answers to some of the most common questions concerning joint ownership of property, please scroll down to the FAQs section at the bottom of this page.
If Prettys can assist you with any matters regarding a Declaration of Trust, don’t hesitate to contact us on 01473 232121, complete our contact form or send an email to enquiry@prettys.co.uk and we’ll be in touch.
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