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Thomas
Thomas, Solicitor
Category: Family Law
Satisfied Customers: 7509
Experience:  UK solicitor
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my partner lent me the money to buy my council house , which

Customer Question

my partner lent me the money to buy my council house , which we will be selling in 5 years time , obviously he wants the money back then which i agree with , but what can we do legally to make sure this happens incase in the meantime we split up or i die ,,?
Submitted: 2 years ago.
Category: Family Law
Expert:  Thomas replied 2 years ago.
Hi
Thanks for your question.
Are you married to your partner or will you get married before the property is sold?
Are there any children of your relationship with your partner?
Kind regards.
Tom
Customer: replied 2 years ago.

no we are not married , and wont be in 5 years , and there are no children

Expert:  Thomas replied 2 years ago.
Hi
Thanks for your reply.
If i was your partner and Iwished to secure the repayment of his money I'm the future then i would see a solicitor about drafting what is called a declaration of trust.
This is a written deed negotiated first date between you and then executed with solicitors. It would state that although the property is in your name your partner has a beneficial interest in it due to the money they have lent you.
The declaration would state when this money was repayable and in what amounts. It could also deal with such things as outgoings of the property. This declaration can be registered against the legal title of land in the form of a notice or restriction which means that your partner would certainly hear if the property was about to be sold.
This would provide them the peace of mind in respect of their transfer funds to you. It will cost around £150 plus vat each to get legal advice on the declaration of trust and to prepare the execution of it.
Kind regards.
Tom
Thomas, Solicitor
Category: Family Law
Satisfied Customers: 7509
Experience: UK solicitor
Thomas and 2 other Family Law Specialists are ready to help you
Customer: replied 2 years ago.

how can i print this off , or save it to show my partner as he is out at the moment

Expert:  Thomas replied 2 years ago.
Hi
I don't know. I'm just an expert and i simply answer questions. If it is not easy printable from your browser then i would consider copying and pasting the text into another program and printing from there.
Kind regards.
Tom

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