Make Your Document In 3 Easy Steps:
What is a Declaration of Trust?
For use in England and Wales only.
When should I use a Declaration of Trust?
- when multiple people are purchasing a freehold or a leasehold property (eg a house or flat) together
- if all of the purchasers wish to declare their equitable (ie beneficial) shares in the property’s ownership, which are in the same proportions as those by which they contributed to the purchase price
- if the owners also want to confirm how they will all contribute to mortgage payments, and maintenance costs for the property
- when purchasing property in England or Wales only