There can be situations (for example when making a Will) when the co-ownership of your home needs to be checked. The way you own your home is likely to have first been established when you purchased your property.
When two or more people purchase a property they may deem the property as being owned by them in equal parts.
The position is different if one owner has contributed more of the purchase costs or if one of the owners have purchased ‘their share’ subject to a mortgage. In these cases it is possible to make a Declaration of Trust setting out the respective interests and agreements between the owners. This makes it very clear going forward what your intentions and obligations are, for the future.
Declarations of Trust can be straightforward, or incorporate more complex agreements.
We aim, so far as possible, to have fixed fees for a Declaration of Trust and associated matters and the following is a guideline of expected costs:-
Declaration of Trust £150-£350
Taking the stress out of planning for your future
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