Declaration of Trust

If you’re buying a property with someone else, we recommend that you get a Declaration of Trust (DOT).

We're rated 4.8
on

Call us

Our phone lines are open: Monday - Friday 8:30am - 6pm
Saturday 9am - 5pm
Sunday 10am - 4pm

We are closed on bank holidays.

If you’re buying a property with someone else, we recommend that you get a Declaration of Trust (DOT). This is a legally binding document that sets out each person’s interests in the property. It can also detail what should happen to the property in the future.

Also known as a trust deed, a declaration of trust clarifies:

  • Who owns a property and in what percentage share
  • How it is owned (joint tenancy or tenancy in common)
  • The initial contribution made by each person and how the proceeds would be divided if the property was sold
  • What should happen in the event of the death of one of the parties

Get in touch with our experts today for free, no obligation legal advice


Request a Callback

You might need a Delcaration of Trust to:

  • Make sure each contributor gets their share of property back if it’s sold, or keep a record of changes
  • Confirm how the income from an investment property is to be divided for income tax purposes between co-owners
  • Assist in reducing the amount of tax you pay on purchasing additional properties
  • Gift a share of property to someone, or into a trust
  • Protect your share of a property within your estate should the worst happen, and protect against Inheritance Tax Charges

Benefits of a Declaration of Trust

A Declaration of Trust has two main benefits:

  • To protect the financial position of everyone who has made financial contributions towards the property
  • To minimise the potential for disputes in the future

A Declaration of Trust can protect the ‘beneficial owners’ of a property too. For example, if a parent has contributed towards the deposit of your house, you can make sure that they get their money back if the property is sold.

If you don’t make a Declaration of Trust, any money that you have invested in the property could be lost. You may also encounter a bitter dispute in the years to come, if the co-owners have differing opinions as to what should happen to the property – and how any equity is to be divided. By agreeing these details now, you can rest assured that your interest will be protected.

If you would like to know more about Declarations of Trust, speak to our solicitors. We can discuss your personal circumstances, recommending whether a Declaration of Trust would be beneficial in your situation.

Get in touch with our experts today for free, no obligation legal advice


Request a Callback

Call or email us in order for us to discuss in greater detail how our solicitors can move your case forward today.

Book a Consultation

Contact us today to talk about your situation

    We're rated 4.8
    on
    Online Chat