DECLARATION OF TRUST
When there is property joint ownership, a residential conveyancing solicitor such as George Ide LLP, should be consulted in order to draw up a deed known as a declaration of trust so that it is clear where financial and legal responsibilities lie.
With the cost of buying a home being so high, especially in Chichester and other areas of West Sussex, putting down a deposit and making a regular mortgage payment is beyond the budgets of many individuals, but may be possible if another person or people have a stake in the property.
The joint ownership of a home can be between an unmarried couple, family members, friends or business acquaintances, so the document should state who has made financial or other contributions when the property has been bought and what will happen if one of the parties wishes to withdraw from the agreement or dies.
As well as the percentage value of the home to which each person is entitled, a declaration of trust should also set out how outgoings for the ownership will be met: mortgage, repairs, insurance etc.
It may also be useful for a declaration of trust to be drawn up if someone, such as a parent, puts money into a property – paying for the mortgage directly or indirectly, financing an extension etc, – in order to make their involvement clear.
George Ide LLP’s professional residential conveyancing team is part of a comprehensive legal practice so that if issues relating to other aspects of the law arise as a result of a client’s home ownership, advice will be available from another of our experts.
Buying your own home is a major commitment but with George Ide on your side you can be sure your interests will be protected.
For more information about declaration of trusts and other residential conveyancing services for private clients, please contact George Ide’s office in Chichester. Alternatively to contact a member of the team please use the solicitor profiles on this page.
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Client Testimonials
Nick was at the very top of his game (again). If there is a better lawyer out there, I’ve yet to meet him. A giant amongst men. Respect.
Pete Cunningham
Nicholas Smith
For the sale and purchase of our properties we found the service we received throughout the conveyance to be exemplary. A clear, efficient and professional service from Nicholas Smith and his team.
I would look no further for any future property conveyance and as a result of this experience with George Ide I will consider them, first and foremost, for future legal matters.
Ian & Susan Archer
Nicholas Smith
Nick was always very quick to respond to any queries and made the whole process a lot less stressful, especially as it was my first property purchase. Guidance documentation was very helpful too. I can’t fault the service.
Teresa Durrant
Nicholas Smith
An outstanding week – thanks for the speed and efficiency on the two deals you’ve acted on. I just wish all solicitors were as proactive as you.
It doesn’t get much better than this.
Mr C
Nicholas Smith
We just wanted to take the time as well to say a personal thanks to the pair of you for your excellent service and support during our move. We had used you before but, like many people, we were tempted to go this time with one of the low cost on line conveyancing quotes we received. Had we done so we are now sure we would have regretted it as we feel that the exemplary service we got from yourselves was true value for money. In particular, towards the end of the process when we had to deal with a very demanding buyer for our house we felt very well supported by you not just in the technical elements of your service but also in the responsiveness and personal support we received. We have heard numerous stories from friends and colleagues of how they have struggled with conveyancing services during property transactions and have enjoyed telling people what a positive experience we had with George Ide.
Jeremy & Nicky Mills
Nicholas Smith
A friendly, helpful and competent service close to home and we felt welcome, relaxed and confident in their hands. Thank you all.
Egon & Pamela Frey
Nicholas Smith
It is hard to improve on an existing, excellent service and I have no suggestions to make. I will definitely recommend you and would use your services again.
Mr. Philip Oliver
Nicholas Smith
I would like to take the opportunity to thank you and your team for your friendly and efficient manner when carrying out the conveyancing of my late Grandmothers property. Other than the delays caused by our buyers it went very smoothly and I am grateful to you for pushing it through so quickly once their issues had been resolved and have pleasure to attach our client satisfaction questionnaire. Kind regards
Jon Sargent
Nicholas Smith
Just a note to thank you both very much for your help during the sale of Betty’s apartment. I was pretty stressed about it all, especially after the first sale fell through. But your kindness and efficient follow-up on everything really helped me. I have total confidence in your services and would not hesitate to work with you again. Very best wishes.
Sandy
Nicholas Smith
“Dear Nicholas,
It is so nice to have dealings with a straightforward and honest firm, it is so refreshing. You have shown consideration and care in my affairs.”
PR.
Nicholas Smith
Excellent service again – even better than last time. I was particularly impressed and grateful for the very speedy email communications; they were always prompt but also importantly, they were succinct. I was also pleased at the help given in distilling the important considerations and that Nick identified a major issue with the title very early on in the process.
Mike Smith
Nicholas Smith
Nick, Sally, Maddie & Lara, I just wanted to thank you for the excellent service that you all provided in the recent sale and purchase of our home. You made a stressful process a great deal easier, with your prompt responses, ready availability and sound advice. We are very grateful and would recommend you to others. I will complete your feedback form, but just wanted to email my thanks to you directly. Best regards
Richard Clay
Nicholas Smith
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