Declaration of Trust Services Corby

A declaration of trust, also known as a deed of trust, is a crucial legal document that outlines financial agreements among co-owners of a property. It provides a comprehensive record of each individual’s initial contributions to the property, ongoing financial responsibilities, and contingency plans in case of property sale, dispute, or buyout scenarios.

Contact our Corby Office directly or get in touch with a member of our Declaration of Trust team by completing an enquiry form below. Your peace of mind is just a click away.

Property Co-ownership in Corby – When Should You Consider a Declaration of Trust?

Do you jointly own a property in Corby with a partner, friend, business associate, or family member? A declaration of trust can play an essential role in various circumstances, including:

  • Unmarried Cohabitation: If you and your partner are purchasing property together but aren’t married, a declaration of trust can safeguard your interests and clearly define each party’s rights and responsibilities.
  • Joint Ownership with a Friend or Business Partner: When buying a property with a friend or business associate, a declaration of trust becomes indispensable in delineating each party’s responsibilities and rights. It helps avoid potential conflicts and ensures a clear understanding of ownership arrangements.
  • Funds from Friends or Relatives: If the funds for your property purchase come from friends or relatives, a declaration of trust becomes crucial in recording their contributions and outlining the terms of repayment or sharing of proceeds.
  • Unequal Contributions: When parties have made unequal contributions to the property purchase, a declaration of trust can define each tenant’s share and responsibilities, ensuring fairness and clarity.
  • Death of a Co-owner: In the unfortunate event of a co-owner’s death, a declaration of trust becomes invaluable in determining the percentage ownership of the property belonging to the deceased. This information is necessary for the administration of their estate by their Executors or Administrators.

Understanding Joint Tenancy and Tenancy in Common

  • Joint Tenancy: A joint tenancy is a legal arrangement where two or more individuals jointly own a property. In this arrangement, if one owner passes away, their share automatically passes to the surviving owner(s) through the right of survivorship. Spouses or partners commonly choose joint tenancy.
  • Tenancy in Common: Tenancy in common is a form of property ownership where each owner has a specific share of the property. Unlike joint tenancy, there is no right of survivorship. If one owner passes away, their share can be inherited by a beneficiary of their choice. This type of ownership allows for more flexibility and individual control over shares.

At Tollers, our specialist Declaration of Trust lawyers in Corby are here to guide you through the process, ensuring that your property agreements are protected and your best interests are safeguarded. We understand the importance of clarity and fairness in property ownership arrangements. To learn more about our Declaration of Trusts services, click the Declaration of Trust Services link.

Local Deed of Trust Solicitors in Corby and Beyond

Tollers is an established law firm and a leading provider of legal advice and services in Corby. Our highly skilled lawyers specialise in offering expert legal advice on various matters, including declaration of trust services, property transactions, lasting powers of attorney services, and estate planning. We strive to make the process as smooth and stress-free as possible, ensuring you clearly understand your legal rights and standing.

With offices conveniently located in Corby, Northampton, Milton Keynes, Stevenage, Kempston and Oakham, we are easily accessible to serve you. We also offer home visits for a small additional charge, making ourselves accessible and convenient to you.

Talk to Tollers – Corby’s Declaration of Trust Experts

If you have any questions or would like to get in touch with a member of our Declaration of Trust team, you can contact our Corby Office directly or complete an enquiry form on our website. Protecting your property agreements and securing your peace of mind is just a click away.

Corby Legal Services

During Tollers’ 50-plus years in Corby the firm has gone from strength to strength and moved in 2006 to its current home at Exchange Court. This move was to facilitate the growing requirements of local clients, both from a personal point of view and also to serve the business community. The move also facilitated the growth of the Corby Conveyancing teams as the town grew to accommodate the influx of people moving from London to the county.

Contact our Corby Office directly or get in touch with a member of our Declaration of Trust team by completing an enquiry form below. Your peace of mind is just a click away.

Our Address

2 Exchange Court
Cottingham Rd
NN17 1TY

Contact Details

Sat Nav NN17 1TY
Telephone 01536 276 727

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