Declarations of Trust

Many clients look to protect their interests or investments in property transactions. A Declaration is Trust can be drawn up to protect parties in instances where:

  • there are two or more owners in a property and they wish to declare how the value of the property is to be shared between them; or
  • there is a third party (such as a parent or spouse) who is not on the deeds but who may have made a financial contribution towards the purchase.

The Declaration of Trust deals with what will happen to the value of the property if it is sold in the future (such as how the proceeds will be shared) and minimises the potential for disagreement between the parties in the future. It also makes clear who is responsible for the mortgage payments, repair and other costs related to looking after the property.

If you are purchasing a property, we will arrange to provide you with advice as to when a Declaration of Trust might be appropriate during the course of the transaction.

If you already own a property and you think that you may need a Declaration of Trust in place, please feel free to call us on 0113 236 2334 to discuss your needs or email us for a quote.