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.
These Declarations of Trust for Residential Property owned in Floating 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.