Free Declaration of Trust 

On many occasions the purchase of a shared ownership property may be by more then one person and the joint owners may contribute different shares of any deposit or mortgage payment. 

In such circumstances it is so often advisable to enter into a document called a Declaration of Trust which will record the different contributions and set out clearly the shares in which the property is owned. 

This document can be very useful in settling disputes if the buyers subsequently decide to split up or divorce. 

For example, the Declaration of Trust may simply say that one owns, say, 65% of the property and the other owner, say, 35% of the property to reflect the initial contribution. 

Another example may be that one owner is entitled to, say, £20,000.00 of the net sale proceeds and the balance is divided equally. Most solicitors or conveyancers charge a separate fee of several hundred pounds for the preparation of a Declaration of Trust. 

We will provide this document ENTIRELY FREE OF CHARGE 

If you do want a Declaration of Trust, however, please remember that circumstances may change and you may need to subsequently change the terms of the Declaration of Trust particularly, perhaps, if the staircasing option is exercised. 

Please remember also that the Declaration of Trust only affects your share of the property and not that share of the property owned by the Housing Association.