Providing you with a clear framework to safeguard your interests and navigate property co-ownership challenges with confidence.
What is a declaration of trust?
Declaration of trust is used where you own a property jointly with another person as Tenants in Common, rather than Joint Tenants. Tenants in Common is chosen where you and your co-owner(s) each wish to have distinct shares in the property.
Declaration of trust is the document, which sets out the respective beneficial shares held in the property, financial contributions to the purchase and the individual contributions towards the mortgage payments and defines the shares you each hold in the property.
The importance of a declaration of trust in property co-ownership
Our expert Residential Property Team will work with you to draft this document to safeguard your interests and ensuring you have peace of mind, in that it also deals with the procedure for a sale of the other co-owner’s share in the property or sale of the property, if one owner wishes to sell and the other co-owner does not want to sell.
In the absence of a Declaration of Trust, there is a risk of uncertainty at a later date should a dispute arise between the property co-owners over the distribution of the future sale proceeds or the procedure to sell the property or transfer ownership of a share in the property to the other.
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Client of Stuart Durrant
Gardner Leader were outstanding in helping with the sale of the property, from the outset, I took all the paperwork in, met with the person dealing with our case and explained our situation. Sheyi was extremely efficient, kept me updated and offered additional help and advice when needed.
Client of Sheyi Lawale
Gardner Leader was highly recommended to me by a good friend, and I too think of them as a real asset! They are reassuring, patient, accurate, diligent, thorough, persistent, and kept me in the picture throughout the sales process. I highly recommend GL to anyone considering selling their proper
Client of Sheyi Lawale
Having previously used Gardner Leader I was very happy to use them again. First class service, efficient, friendly and highly recommended.
Client of Michelle Challis
Hana was incredible. She answered emails so quickly and always explained things clearly. I would highly recommend Hana and would 100% use Gardner Leader again.