Deed of Trust (Your Property) - Resources | Banner Jones Solicitors in Sheffield, Chesterfield, Dronfield & Mansfield

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 0330 017 6303. 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.

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.

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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.

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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.

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