UK Property Law
Get UK Property Law Questions Answered by Experts
What does the trust deed say please?
Who is the registered owner of the property?
Okay. What share were you intended to get in the property? What percentage?
What does the trust deed actually say?
You are trying to rescind a document that gives you a greater interest in a property (59%) than was intended (50%). Correct?
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.