In property law Declarations of Trust are made between joint owners of property in which they declare their respective shares in the beneficial interest of the property. Beneficial interests refer to the actual proceeds of sale of the property at some future time. The beneficial interest is different to the legal estate. An express Declaration of Trust is a simple method of recording the intentions of the parties as to whether they wish to own the interest in equal or unequal shares. This is a useful mechanism where joint owners may have made unequal contributions towards the purchase price or may wish to reflect in their current ownership of the property contributions that may have been acquired from previous marriages or relationships. Whilst this is often used between joint owners or cohabatees’ the same process can be used by persons in business relationships who wish to ensure that their beneficial interest in a property owned as part of the business is protected for the benefit of their respective families.
How much will it cost?
Our fees reflect the time we expect to spend dealing with your case. We are able to offer fixed price fees at the outset as we appreciate that part of the conveyancing process is of a routine nature. However, there are parts of the process where our qualified solicitor is required to read all of the title documents and consider all the relevant legal matters. Using our experience we are able to set out a fixed cost which allows for the fact that you will only be charged at a rate that is appropriate to the level of work that is carried out.
Our fees for a property sale and purchase start at £475.00 + VAT. Please note that there will be an additional cost for disbursements such as property searches and Land Registry fees.
See our Fees page for further information.