For use in England and Wales only.
If two or more people are purchasing a property together they may want to purchase as tenants in common. This declaration of trust for tenants in common records each person's contribution and therefore the proportions of the property they own. A deed of trust can also record contributions to mortgage payments and maintenance. Creating this declaration of trust when purchasing is important when the property is sold as it ensures that each homeowner gets a fair portion of what they put into the property. If additional people, other than the homeowners, have contributed to the purchase price you can look at our Declaration of trust with beneficial interest.