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Thomas
Thomas, Lawyer
Category: UK Law
Satisfied Customers: 7473
Experience:  BA (Hons), PgDip, Practising Solicitor
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Hi, I had a deed of trust on my property that I now want removed.

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Hi, I had a deed of trust on my property that I now want removed. It is in my parents name and there will be no funds to be paid when it is extinguished. What is the best way to go about this?
Hi,

Is the property in your name?

Why was the document executing and what did it say?

Tom
Customer: replied 3 years ago.

Yes it is in mine and my wifes name.


 


It was basically saying that if we sold the property £50,000 would be paid to my parents.


 


They no longer want this so we all have agreed for it to be removed. We are not selling the property or anything though.

Hi

Thanks for your patience.

I assumed that the Deed has been registered with an agreed notice in the register. This means that you would have to submit Land Registry Form CN1 to them for them to remove the notice. There is no fee for this but you would have to produce evidence for why it should be removed.

You should attend a local solicitor to arrange preparation of a deed which terminates the trust and brings each other’s rights under the trust to an end. This should then be submitted to the Land Registry with the CN1 form.
The land registry would probably also require that proof of your parents identity was provided in the form of a Land Registry ID1 form execute by them with a local solicitor.
It should be relatively straightforward and I would expect a solicitor to charge in the region of £150.00 for arrange the deed and the execution of the Land Registry ID1 forms.

I don't believe there is a restriction on who can apply for the removal of the trust, so your parents could attempt to do it but your rights are better protected by a formal deed terminating the trust really..

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Kind regards,


Tom
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Customer: replied 3 years ago.

I have just checked the Land Registry records and the restriction is below, does this make a difference to what I need to do?


 


(15.12.2004) RESTRICTION: No disposition of the registered estate by


the proprietor of the registered estate is to be registered without a


written consent signed by Phillip Harrington and Maria Harrington of 34


Somer Avenue, Midsomer Norton, Bath.

Hi,

That's a restriction, not a notice. You woudl have to submit form RX3 to remove it instead of CN1. Otherwise, my answer stands unamended.

Thanks for kindly rating my answer.

Tom

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