When purchasing a property, proprietors have the option of entering into a residential declaration of trust – A document that would be drawn up at the time of purchase to express the interests of each party. Due to changes in society these have become more common in recent years, from young couples who have paid differing amounts toward their deposit to couples entering into a second marriage who have children from a previous marriage, a declaration of trust should be entered in to in order to protect a proprietors interest in a property.
Charlotte Crane and Victoria Wells, Paralegals from the real estate team at Stephens Scown, provide advice for those looking to purchase property.