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Thomas, Lawyer
Category: UK Property Law
Satisfied Customers: 7620
Experience:  BA (Hons), PgDip, Practising Solicitor
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In 1999, my sisters and I provided the money for our mum to

Customer Question

In 1999, my sisters and I provided the money for our mum to buy her council house under the Right to Buy Scheme. A solicitor drew up a Declaration of Trust naming our mum as the trustee and we three as beneficiaries. I'm not sure who actually owns the property, mum or us. Mum now needs residential care and one of the questions on the financial declaration form is: Do you own your own property? I have done a Land Registry search and her name alone is on the title deeds but the trust document has the following statement: The Trustee hereby acknowledges that she holds the Property on trust for the Beneficiaries as Tenants in Common in equal shares. Who owns the property?
Submitted: 5 years ago.
Category: UK Property Law
Expert:  Thomas replied 5 years ago.

Thanks for your question.

If your mother is named on the title to the property then she owns the property. If you have a declaration of trust in your favour stating that you and your sister have an interest in the property then this means that you have interest in the proceeds of sale of the property.

This means that you should answer that she does own the property but that it is subject to a declaration of trust and then give details of the extent of your interest in the property.

The local authority will only be able to claim against the part of the property that she owns. Your interests will be protected.

If this has been useful please kindly click accept so that I may be rewarded for my time. If you do not click accept your money stays with the site and I do not receive any credit for the time I have taken to answer your question. You will not be charged any further money for clicking accept.

Kind regards,

Customer: replied 5 years ago.
Has my subsequent question been submitted? It's disappeared from the screen. Do I have to pay first?
Expert:  Thomas replied 5 years ago.

You've only submitted one question to the board (ie. this one, the one I have answered).

You have not clicked accept. Only when you click accept does a portion of the money transfer to me.

Please click accept.

If you have another question relating to this topic just post it as a reply and I will assist.

Kind regards,

Thomas and other UK Property Law Specialists are ready to help you
Customer: replied 5 years ago.
What part of the property does she own? If her name is XXXXX XXXXX title deed does that mean she owns all of it? If so, of what value is the trust?
Expert:  Thomas replied 5 years ago.

It's means she owns the property but you have an interest in the equity in the property.

The extent of your interest will be defined by the declaration of trust so you need to look at the document itself. Your interest will be protected from the local authority.