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Thomas
Thomas, Solicitor
Category: UK Family Law
Satisfied Customers: 7600
Experience:  BA (Hons), PgDip, Practising Solicitor
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My daughter and I own a residential property in common ownership. We have agreed to chang

Customer Question

My daughter and I own a residential property in common ownership. We have agreed to change the fraction from the present 50/50 to 99%/1% by way of a trust deed. Which Land Registry form do we use to record the trust deed and the change of ownership fraction at the Land Registry?
Submitted: 2 years ago.
Category: UK Family Law
Expert:  Thomas replied 2 years ago.
Hi
Thank you for your question and patience, I’m Tom and I’ll try to help you.
If you both already own the property together and hold as tenants in common then there is no LR form with which to record your shares.
Instead, you must execute a Declaration of Trust, which is a deed declaring your respective interests in the property. Usually, (though not a legal requirement per se) it is prepared by a solicitor.
The deed will state the interests you each hold and you would execute two copies of it and retain one each. Ideally, to ensure that the declaration is fully enforceable you would both take advice from two solicitor (one each) in order to prevent the declaration being disputed at a later date.
There are template available from online suppliers which you could attempt to draft yourself, but obviously if you were to make a mistake then it would likely not be enforceable. Similarly if you prepare one yourself and neither of you takes legal advice then it could be disputed.
My goal is to provide you with a good service. If you feel you have received anything less, please reply back as I am happy to address follow-up issues specifically relating to your question.
Kind regards,
Tom
Customer: replied 2 years ago.
(Posted by JustAnswer at customer's request) Hello. I would like to request the following Expert Service(s) from you: Live Phone Call. Let me know if you need more information, or send me the service offer(s) so we can proceed.
Expert:  Thomas replied 2 years ago.
Hi
I'm afraid that I cannot have a telephone call with you, this website (as far as solicitors are concerned) is a general question and answer service and a telephone call could be construed as specific advice, which I am prevented from giving under conduct rules.
If you have a further question, please post it in reply to this thread and I will answer.
Tom

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