Declaration of Trust, Solicitors in Gloucester, Solicitors in Cheltenham

Why couples purchasing their new home should consider a Deed or Declaration of Trust.

Monday 19th February 2018

You can’t beat a bit of old fashioned romance. You meet someone new, fall in love and then one day decide to move in together. It’s an exciting time planning your new home and future together. However, once the honeymoon period has passed and the butterflies have settled sometimes the reality of cohabiting can bring you down with a bump, particularly if things start to go sour. No one sets out on this journey with the thought “what if it doesn’t work out” however this is something that should not be overlooked, but quite often is and why couples purchasing their new home should consider a Deed or Declaration of Trust.

A Declaration or Deed Trust is put in place to legally record your respective financial shares in a property. For example, if you were to put down 80 percent of the deposit and your partner put down 20 percent, with no deed in place recording this arrangement in the hopefully, unlikely event that you should separate you could stand to lose a large chunk of your higher net share. Potentially resulting in a huge loss of your initial investment. Whilst, we all hope that our relationships will last forever, the sad reality is that we just don’t know what the future holds for us. Which is why, here at Dee and Griffin we would advise a little careful planning for both of your futures.

A Deed or Declaration of Trust Document is a relatively simple and inexpensive document which costs as little as £80, given that it could potentially protect you from losing thousands of pounds in the future it’s a “no brainer”. The Deed can be bespoke and tailored to your individual requirements. Therefore, if your situation is straight forward or a little more complicated it is not a problem and can be easily achieved. The Deed or Declaration of Trust, as a legal document needs to be overseen and created by a legal professional. This is where Dee and Griffin can help. Our experienced and friendly solicitors in Gloucester and in Cheltenham would be more than happy to help you with any enquiries and ultimately produce your Deed tailored to your needs.

If you would like further information please contact Dee and Griffin on 01242 240560 or email lesley-anne.gunn@deeandgriffin.co.uk To find out further information about Dee and Griffin and their products and services please visit www.deeandgriffin.co.uk

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