If you a buying a property alongside someone else, you may wish to consider having a ‘Deed of Trust’ prepared. A Deed of Trust (also known as a ‘Declaration of Trust’) is a legal document that can be drawn up between two or more parties as part of a property purchase. The purpose of the Deed is to set out exactly who has a financial interest in the property and what their ‘stake’ in it is.
Most people buy properties together as ‘Joint Tenants’, which means they own the property together equally. This would mean that, should the property be sold in the future for any reason, then both owners would receive a 50/50 split of the sale proceeds. Depending on the circumstances of how the property was first purchased however, you may not feel that this is fair, and a Deed of Trust can help set out how the proceeds of a sale should be distributed.
If you are planning on purchasing a property and have any queries about how a Deed of Trust may help in your circumstances, please do not hesitate to contact us here or call us on Our conveyancing team are very familiar with preparing Deeds and would be more than happy to help in making sure your wishes are accurately reflected.
Introduction to our New Build Homes Team
Our expert team will handle the legal process as quickly and efficiently as possible.
How to Avoid Property Fraud
We know that moving house is often a very busy and stressful time. This may leave you more susceptible to falling victim to property fraud. This guide outlines useful advice on what you can do to help protect yourself.
Thinking of turning your home into an Airbnb?
The restrictions on overseas travel has seen a race for UK holiday accommodation. Where property owners look to make money from ‘staycations’ by offering their homes on sharing platforms such as Airbnb, the ease of letting does not take away the responsibility to understand and keep up with relevant rules and regulations.
Tips for becoming a landlord
Help To Buy ISA - How Have They Done?
Recent government statistics have revealed that the Help to Buy ISA scheme is helping first-time buyers to get on the property ladder three years earlier than they otherwise would. The result has been calculated by looking at the average age of first-time buyers both with and without the ISAs. On average, those who use the ISA to buy their first home are three years younger than those who do not, with the median age of those using the Help to Buy ISA being 27.
Property Scam – A Cautionary Tale
It’s a troubling norm of today’s society that most people will have heard a horror story about property fraud from a family member, a colleague from work or simply reading online. Importantly, these stories need to be kept in perspective: remember, the tales of properties being rented and sold without any noteworthy problems are the ones people usually don’t bother sharing! However, it’s also worth taking heed of the negative experiences of others to ensure you do everything you can to avoid falling into similar traps.
What impact will an interest rate rise have on young homebuyers’ mortgage bills?
Recent official figures have revealed that homebuyers are being lent more money by banks than at any time since the global financial crisis a decade ago, with many of the borrowers being young people for whom stepping onto the property ladder is barely affordable. As such, billions of pounds of debt which may prove unsafe is being taken on by them at a time when interest rates are expected to rise.
5 steps to a simple house move
Is it ever possible to get the keys to a new home without gaining a few grey hairs? Read on to find out how to make it as simple as possible.
The Ultimate Guide to Moving House
Check out our top tips below to ensure a smooth and easy moving day.
Chesterfield Moving Guide
Moving to Chesterfield? Check out our Chesterfield Moving Guide for tips on how to turn your house into a home.
How to Buy a Help to Buy Home
We have prepared an article compiling some key information breaking down the 3 stage process of buying a home on the help to buy scheme.
Online Privacy in the Office
Companies are within their rights to monitor the private online activities of their employees when they are in the office.
Birth Injury- The patient’s right to information
A woman recently won damages on behalf of her son for injuries sustained at his birth as a result of the alleged negligence of a consultant obstetrician and gynaecologist.
Divorce Survival Tips
We’ve enlisted the help of some local relationship counsellors in Sheffield to provide you with some survival advice to help get you through a divorce.