A Declaration of Trust (which is a Trust Deed) will be important if you a buying a property jointly with one or more buyers.
Or an individual is contributing financially to the purchase, but is not having their name registered against the property title (e.g. when they are helping with mortgage payments or renovation costs).
Without a Declaration of Trust to record the agreement between you, as to who owns what percentage of the property and other related matters, possible disputes to resolve the situation can be costly and time consuming.
A Declaration of Trust can also record other related points, such as who is responsible for property outgoings, what will happen if one owner wants to sell, or what happens to the property if one of the owners die.
At the time of purchase, or when circumstances arise when the interest in the value of the property changes, we can advise on the structure of a Declaration of Trust to best protect your interest in the property.
Our team of experienced tax specialists can advise on the tax consequences of being a beneficial owner of a property, which can be particularly importance to consider when the property is not your main residence.