Property Law Essex

Declaration of Trust Lawyers

Kayson Solicitors
4.9
Based on 68 reviews
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Sam ListerSam Lister
15:43 31 May 24
I cannot express my gratitude enough for the exceptional legal support I received from Kayson and the entire team.
Tim JanjoTim Janjo
13:53 24 May 24
Kayson solicitors have been very professional, and very responsive to needs of my case.A special appreciation I would pay to Ms K. Patel , who has been exceptional throughout the process in dealing with my case.
Sam HeadonSam Headon
08:20 20 May 24
Highly recommend Kayson Solicitors for their family services. They represented me and were a great source of guidance, really helped me obtain the divorce and financial settlement!
taskin huseyintaskin huseyin
10:52 15 May 24
Highly recommend Kayson solicitors who offered the best professional service through my divorce and settlement procedure.
A Google User
A Google User
15:07 10 May 24
Thank you Kayson solicitors. Great firm. i had instructed them to help in a child maintenance payment issue which they dealt with very swiftly. i had a very good experience with them.
Kim LarssonKim Larsson
15:07 10 May 24
Thank you Kayson solicitors. Great firm. i had instructed them to help in a child maintenance payment issue which they dealt with very swiftly. i had a very good experience with them.
Amanda SmithAmanda Smith
10:48 08 May 24
kayson solicitors were appointed to resolve a family matter. my case was handled with compassion and professionalism. thanks to my solicitor in particular, we manage to finalise the matter with relative ease and get the issue resolved in my favour. The best firm in Essex, I highly recommend them.
Adam JosephAdam Joseph
17:24 02 May 24
Kayson Solicitors handled a complex business dispute for me which required very delicate handling. Kam and her team were very professional and great communicators and guided us through negotiating a deal which was fair, even though the other party and their litigators were aggressive and confrontational, i highly recommend them.
kathleen leduckathleen leduc
09:39 26 Apr 24
Kayson solicitors were appointed to resolve a family matter. My case was handled with compassion and professionalism. Thanks to my solicitor in particular, we managed to finalise my matter with relative ease and get the issues resolved in my favour. if the need should arise they would be top of my list. Excellence!
Anduena Topulli SulaAnduena Topulli Sula
20:57 21 Feb 24
I will not stop recommending Keyson Solicitor to everyone I know. Not only for the professional skills but most of all for the human and kindness I’ve been treated during my personal dispute with ex husband. Thanks a lot.
Arta GogaArta Goga
20:46 17 Feb 24
5 stelle è qualcosa comeThanks for you help during this hard time struggles. Knowing that I was not alone and can rely on professional to take care of family legal dispute, hade an positive impact on my daily life,Thank Kayson Solicitor
Bianca PopescuBianca Popescu
13:32 17 Feb 24
I couldn’t recommend more Kayson solicitors! The best solicitors around! Great and amazing service and quality!
Lindy looLindy loo
20:06 16 Feb 24
My mother has been so stressed with her divorce. However, Kam our solicitor, helped us through and was just amazing! Nothing was ever to much trouble! It’s now over and with good results thanks to Kam!!!!Would definitely recommend!!!Thank you!
Danielle WindsorDanielle Windsor
09:58 12 Feb 24
Kam Patel at Kaysons helped me as much as they possibly could with a housing and family matter.I was kept in the loop of all proceedings and things were made clear to me .Unfortunately it’s still on going with a barrister as a very complex matter.
Sibel OsmanSibel Osman
16:43 17 Aug 23
I cannot recommend Kayson Solicitors enough. From start to finish, Kam and Lucy were professional, knowledgeable and compassionate. Getting divorced is an emotional process and it was enormously helpful that I had a team behind me that were focused and organised. They reassured and advised me every step of the way so I never felt like I was making life changing decisions alone. I would highly recommend to anyone needing a solicitor. 10 out of 10. I now have the life I desperately needed. Thanks again ladies.
Danielle HardwickDanielle Hardwick
15:37 13 Jul 23
I could not recommend Kayson Solicitors enough for the amazing help and support throughout my divorce and financial matters. Both Kam and Lucy were incredibly knowledgable and really held my hand throughout the whole process. I put my 100% trust in them and they really delivered. They really took the pressure off me in such difficult times. Will definitely be returning for any future legal matters!!!!!!!!!!!!
Delroy SimpsonDelroy Simpson
13:07 30 Oct 22
I had cause for Kam Patel of Kayson Solicitors to represent me in a private matter. I was left throughly impressed with their professionalism. A special mention for Lucy Cornish.I would not hesitate in recommending there services.
Bethan GreatorexBethan Greatorex
11:00 08 Feb 22
We just used Kayson for our recent house sale and would highly recommend them. A very professional, hard working and friendly team - which hasn't always been our experience with solicitors! They took the time to make sure we were informed and understood each part of the process and always responded quickly to any questions we had. Would definitely choose to work with them again.
Samanthalee ChamierSamanthalee Chamier
06:43 17 Sep 21
Kam and Lucy are exceptional! They are professional, yet caring and really take the time to listen, understand and reassure. They were honest with me throughout my case, so I was prepared for all scenarios but thankfully it concluded well and I got to immigrate with my children. I highly recommend them.
I instructed Kayson Solicitors to help me with sale of my property last year. It was a very complicated matter since I had joint mortgage with an ex partner on my property. They took a pro-active approach and handled the matter professionally. Their client-friendly approach helps you to fully understand the process and puts you at ease. The matter was resolved in a timely manner without any delays in the process. I highly recommend Kayson Solicitors! Big thanks to Kam and her team!
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What is a declaration of trust?

declaration of trust is a document that records and sets out who are the beneficial owners and the percentage each party owns holds in the property on trust. A declaration of trust also clarifies what will happen in the event that the property has to be sold. However,  it can be even more important to have a declaration of trust  drawn up even when somebody has contributed towards the property but is not named on the title deeds, to protect their interest A declaration of trust (also known as a deed of trust) is a legally binding document and enforceable in court.

 

How does it work?

Purchasing a property is expensive and it is not just the initial deposit. If you are buying jointly with a partner or a friend, it is likely that the costs may not be split equally. In addition, if you are buying the property on your own, you may require financial contributions from family and friends. As these financial contributions add up to a considerable amount of money, it is advised to draw up and sign a document which protects everyone’s interests.

In the future, if the property is sold for example, it ensures that all parties with interest in the property gets that they are entitled to.

 

A declaration of trust is beneficial because…

  1. If you are unmarried, the legal protection that married couples have does not apply if you separate. Without a declaration of trust or cohabitation agreement, unmarried couples have different rights to married couples.
  2. It protects everyone’s interests in the property. It is also helpful when one party’s name isn’t registered on the mortgage. One party may contribute to the mortgage repayments and monthly bills however, informally. This means that the individual may have a beneficial interest in the property and will need protecting.
  3. It reduces the risks of misunderstandings and disagreements in the future. You may have verbally agreed with your partner that you will receive more of the equity when/if the property is sold however, without a legally-binding written agreement, you leave yourself vulnerable in the event that your relationship breaks down and your partner changes their mind.

 

What should be included?

  1. How much each party has contributed to the deposit
  2. How the mortgage is to be paid off and how much each party is to contribute towards the repayments and other financial outgoings
  3. What percentage of the property each party will own
  4. How the sale proceeds should be split
  5. An agreed method of valuing the property

 

Can you change or challenge a declaration of trust?

First and foremost, a declaration of trust is put in place to ensure that no one can change their mind about how the sale proceeds are split when the property is sold. But of course, situations change and the document may need updating.

The deed can be re-written to reflect changes in circumstances however, it needs the consent of all parties.

If you want to make substantial changes to the declaration, it is often advised to get a new one written. If alterations are only minor, you can enter a deed of variation.

 

Deed of Variation

A deed of variation refers to the declaration that is already in place and adds the new clauses.

You may want to make alterations to your deed of trust if:

  1. a) you have made improvements to your home and this has increased the value of the property and/or;
  2. b) if there has been a change in ownership (e.g. if someone is bought out of the property).