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Does a declaration of trust have to be witnessed by a lawyer…

Hi does a declaration...

Hi does a declaration of trust have to be witnessed by a lawyer to make it bona fide ?

Lawyer's Assistant: What steps have been taken so far? Has any paperwork been prepared or filed?

Yes a declaration of trust was drawn up ,dated ,signed and witnessed by all parties involved

Lawyer's Assistant: Where is the property located?

Surrey

Lawyer's Assistant: Anything else you want the lawyer to know before I connect you?

Pearl really sorry Ive got to go out,can I get back to you later on this please ?

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Answered in 8 minutes by:
3/25/2018
Aston Lawyer
Aston Lawyer, Solicitor
Category: UK Law
Satisfied Customers: 10,798
Experience: LLB (HONS) Over 23 years legal experience specialising in Property law and Wills/Estates
Verified

Hi, I am happy to assist you. Just let me know when you are available again. Al

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Customer reply replied 3 months ago
im available now

Ok.

Give me a minute. Al

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A Declaration of Trust does not need to be witnessed by a Solicitor. As long as it has been witnessed by a third party, it is perfectly legal and binding on both parties.

Is there any more information you need to know?

Kind Regards Al

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Customer reply replied 3 months ago
does it have to have a certain layout and meet any other criteria ?

Hi, it would be normal for a Solicitor to prepare it but it doesn't need to be in any special format. It is normally pretty basic, and need only state what agreement the 2 parties have come to as regards ***** ***** share of the property each is to own or who is to get what from any sale.

Kind Regards Al

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Customer reply replied 3 months ago
Ok I understand I can register my interest at the land registry using a particular form for the purpose.
This would make me feel more assured.
Is this overkill or would you agree that its a prudent move ?

Hi, could you confirm that you are purchasing a property with your partner at the moment? Al

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Hi, I am going to have to go offline in a minute. I will be back online in the morning, so we can carry on our chat then, (It is prudent for you to register your interest on the Land Registry title, but need to know your current circumstances so I can answer you fully). Kind Regards Al

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Customer reply replied 3 months ago
no I have been given 33%equity in a property as assurance against a loan i am making to the owner of the property in question

Oh I see. Well, you should either register your interest with a Charge over the property (this would mean the other party signing a Charge document, as opposed to a Declaration of Trust) or if you are relying on a Declaration of Trust, you can register a Restriction on the Land Registry title.

I would certainly recommend that one of these 2 options are chosen.

I hope this assists. If so, I would be grateful if you could rate my answer in the top right hand corner of your screen.

Kind Regards AL

Aston Lawyer
Aston Lawyer, Solicitor
Category: UK Law
Satisfied Customers: 10,798
Experience: LLB (HONS) Over 23 years legal experience specialising in Property law and Wills/Estates
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Aston Lawyer and 87 other UK Law Specialists are ready to help you
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Customer reply replied 3 months ago
Ok thanks very much
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DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

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