Declaration of Trust (Trust Deed)
This declaration of trust can be used when someone is registered as the legal owner of a property to which others have contributed and have an interest which needs to be confirmed.
Circumstances when it could be used are when two people who live together as cohabitees have both contributed to the purchase of the home which is registered in the name of only one party. Similarly where parents have provided the capital for a property purchase. By executing this declaration of trust the true ownership of shares in a property is recorded and can be registered at HMLR and enforced at court should a dispute arise.
By completing a declaration of trust arguments can be avoided over entitlements to a property. The interests of a party who has contributed to the purchase or improvements to a property can be secured.