What is a deed of trust?
A deed of trust or trust deed, is a recommended legal document if you are purchasing a property with someone else, such as a family member. partner or spouse, where one party contributes more than the other.
A trust deed is a legal agreement laid out to protect the property purchaser, future proofing their asset from a change of circumstances such as, a separation or divorce.
The deed ensures that the property buyer can retain specific shares in the property to enable them to safeguard their investment, if the property is sold or transferred. This is a legally binding protection of your property asset.
The deed of trust can also be referred to as:
- Trust deed
- Co-ownership agreement
- Declaration of trust and cohabitation
Deed of trust advice
Our experienced solicitor offers a free legal consultation to discuss your circumstances, what the process entails and any crucial factors you need to consider.
We take the time to understand your unique circumstances and what’s important to you and ensure your best interests and assets are protected.
Our highly professional deeds specialist will ensure that you have clear, transparent advice and a complete understanding of the process. We work on a fixed legal fee basis set out from the outset so no unexpected costs.
Who needs a deed of trust?
It is advisable to prepare a deed of trust if you are venturing in to a property purchase with a partner, friend or relative. The deed will protect your investment in the property and outlays details of the agreement between you, such as:
- Shares ownership of the property
- The level of contribution from each party towards the purchase
- Pre-agreed guidance over property development disputes
- A pre-agreed solution if one owner passes away
Our legal team will prepare a clear and concise trust deed outlining the rights of everyone with an interest in the property ensuring no disputes are left without a resolution, if the relationship breaks down.
As a property is usually the most valuable asset anyone invests in throughout their life, a trust deed is the most sensible investment as insurance against it.
It is not just for cases with partners or spouses purchasing a property but parents lending children money for their first properties. The parents may well want all or some of that investment protected or returned in the future. A deed of trust can protect their share of the investment for the future.