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Declarations of Trust for Residential Property owned in Floating Shares

The documents in this folder are for use by Joint Owners of Residential Property and professionals advising them. The folder contains Declarations of Trust (or Deeds of Trust) setting out each owner’s percentage share of the property. The documents also make other practical arrangements for day to day management of the property.

The template documents below are designed for co-owners who intend to own the property as tenants in common in percentage shares which vary according to the respective owners’ financial contributions at the point of acquisition and during the period of ownership. We also have – in a separate folder – a selection of documents covering co-ownership of property in fixed shares.

As well as documenting the shares of the owners, a Declaration of Trust can also set out practical arrangements for the property, such as responsibility for outgoings and maintenance. Pre-emption rights can be included giving the co-owners rights of first refusal if one of them 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.

Declarations of Trust for Residential Property owned in Floating Shares is part of Property. Just £38.50 + VAT provides unlimited downloads from Property for 1 year.

Frequently Asked Questions

Our contributions to the property will change over time. Can a declaration of trust handle that? +
Yes. A floating-share declaration of trust is built for exactly this. Instead of fixing each owner's share on day one, it recalculates the shares according to the financial contributions each owner makes when the property is bought and during ownership. It suits co-owners as tenants in common whose input to the deposit, mortgage and outgoings will not stay equal.
How is a floating share different from a fixed share? +
A fixed share is a set percentage agreed at the outset that does not move. A floating share changes: the deed contains a method for working out each owner's share by reference to the contributions they have made. Choose fixed shares where the split is settled and will not change, and floating shares where the balance of funding is expected to shift over time.
How are the shares actually worked out when we sell? +
By the formula in the deed. A floating-share declaration sets out how contributions are counted and how they convert into each owner's percentage, so the share is calculated from the recorded inputs at the point of sale. Keeping clear records of who paid what, from the deposit to mortgage instalments and major works, is what makes the formula work cleanly.
Can we include a right of first refusal if one owner wants to sell up? +
Yes. Like the fixed-share deeds, a floating-share declaration of trust can include pre-emption rights, so if one owner wants to sell their share the others get first refusal before it is offered elsewhere. That keeps control of who ends up owning the property within the original group and avoids an unwanted co-owner arriving by surprise.
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