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Thomas
Thomas, Lawyer
Category: UK Property Law
Satisfied Customers: 7478
Experience:  BA (Hons), PgDip, Practising Solicitor
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I was made to sign a trust deed which I did not understand

Customer Question

i was made to sign a trust deed which I did not understand and had no independent legal advice
JA: The Property Lawyer will need to help you with this. Have you consulted a lawyer yet?
Customer: how can i revoke this it was only done a few hours ago
JA: Please give me a bit more information, so we can help you best.
Customer: I signed a trust deed to hold shares of a property and also another to allocate shares to someone in another property
JA: Is there anything else important you think the Property Lawyer should know?
Customer: I want to cancel this
JA: OK. Got it. Last thing - JustAnswer charges a fee (generally around $18) to post your type of question (you only pay if satisfied). While you're filling out that form, I'll tell the Property Lawyer about your situation and then connect you two.
Submitted: 9 months ago.
Category: UK Property Law
Expert:  Thomas replied 9 months ago.

Hi

What does the trust deed say please?

Who is the registered owner of the property?

Tom

Customer: replied 9 months ago.
The property is owned by my brother in law and he is giving me an apportionment of shares in the property to recompense what is owed to me
Expert:  Thomas replied 9 months ago.

Okay.
What share were you intended to get in the property? What percentage?

What does the trust deed actually say?

Tom

Customer: replied 9 months ago.
50%
The trust deed stipulates that I will have 59 % share holding in ge property
I need to rescind it and it hasn't yet been registered
Expert:  Thomas replied 9 months ago.

You are trying to rescind a document that gives you a greater interest in a property (59%) than was intended (50%). Correct?

Customer: replied 9 months ago.
Customer: replied 9 months ago.
I don't need a phone call
Expert:  Thomas replied 9 months ago.

Hi

Thank you for your question and patience, I’m Tom and I’ll try to help you.

If the trust deed has been correctly executed, in that it has been signed by both parties and witnessed as a deed then it will be legally binding.

This means that even though it has not be registered at land registry it will be legally effective. A trust deed like this does not need to be legally effective.

Provided that you were not under duress and had at least an opportunity to get legal advice before you signed it then it will remain effective.

So, in the circumstances then only way that the situation could be resolved would be if you executed a further trust deed and referred to the current one in the pre-amble to the new trust deed and both parties confirmed the 59% trust deed was terminated. The new trust deed could then declare the correct division of interests.

Sorry I could not have better new for you.

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

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