Declarations of Trust for Residential Property owned in Fixed Shares
The documents in this folder are for use by Co-owners of Residential Property and their professional advisers. The folder contains Declarations of Trust (also called Deeds of Trust) which set out each owner’s percentage share of the property and other arrangements for management of the property.
These documents are suitable for co-owners who want to own a property as tenants in common in fixed percentage shares. A separate folder of documents is available covering co-ownership of property in floating shares, i.e. where each owner’s share varies according to financial contributions made over time.
As well as recording the shares of the owners, a Declaration of Trust can also set out practical arrangements for the property, e.g. who is to pay the bills and look after the property. Pre-emption rights can be included to give the owners a right of first refusal if a co-owner wishes to sell their share of the property.
Co-ownership of property is a legally complex area. These template documents should be used by customers who fully understand their nature and effect.
These Declarations of Trust for Residential Property owned in Fixed Shares are part of the Property Documents Folder. Just £35.00 + VAT will provide you with 1 year's unlimited access to download all/any documents from the Property Folder.