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Stuart J
Stuart J, Solicitor
Category: UK Law
Satisfied Customers: 22624
Experience:  PGD Law. 20 years legal profession, 6 as partner in High Street practice
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I am looking into a situation partner. He signed a deed of

Customer Question

Hi, I am looking into a situation for my partner. He signed a deed of Trust with his ex partner who lived with him (not married) which states that she is entitled to 35 % of the profit from purchase price - quoted from the deed:
JA: Since estate law varies from place to place, can you tell me what state this is in?
Customer: gifts to [name] a beneficial share in the Property equivalent to 35% of the difference between the Initial Purchase Price and the Open Market Value of the Property and irrevocably declares that the Property shall from the date of this deed be held upon trust for the Trustees as beneficial tenants in common as to:
JA: Have you consulted a lawyer yet?
Customer: No, not yet
JA: Is there anything else the Lawyer should be aware of?
Customer: The deed was arranged by his partners lawyer, but he was not advised at the time to seek independent advice from his own layer
JA: OK. Got it. I'm sending you to a secure page on JustAnswer so you can place the $5 fully-refundable deposit now. While you're filling out that form, I'll tell the Lawyer about your situation and then connect you two.
Submitted: 1 year ago.
Category: UK Law
Customer: replied 1 year ago.
1. in the deed of trust, nowhere does it state a date or time frame this has to be paid by on the demise of the relationship.
2. He wasn't advised at the time of signing that he should seek independent advice, is this grounds for negligence?
3. We are due to be married in August and I am moving into the property, what affect will this have on the deed if any?
4. Can she force my partner to sell the house to pay the sum?
Customer: replied 1 year ago.
I have attached a copy of the deed of trust (removing realy names) for you. My partner's relationship ended with her 4 years ago and it is only now that she has mentioned that she now wants to enforce this.
He doesn't not have the funds to do this. Can she force him to sell the house?
Expert:  Stuart J replied 1 year ago.

What I think you are saying is that your partner wants to hang onto the property and only give the X the 35% when he decides to sell it. Is that what you are getting at?

Whilst it doesn’t say it in exactly these terms, clauses 4 and 5 and 6 are clear enough.

4 Ms XX wishes to assign her beneficial share to Mr XX for which he is obliged to pay the amount of her interest.

There is no provision for the person not wanting to take the assignment but clause 6 says that if neither wishes to assign (it doesn’t mention except the assignment) the property shall be sold.

He may have grounds to contest the deed on the basis that he didn’t realise the nature and effect of it if it was drafted by her solicitor and simply stuck in front of him. However it seems likely that his solicitor was advising him with regard to the transfer.

What I also don’t know is why he gave her the 35% and whose idea that was.

I’m not certain whether that answers the question for you or not but I am happy to answer any specific points arising from this. You may get the impression the thread closes after rating, that it does not, it remains open and we can still exchange emails if you wish.

Kind regards