How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Clare Your Own Question
Clare
Clare, Solicitor
Category: Law
Satisfied Customers: 34233
Experience:  I have been a solicitor in High Street Practice since 1985 with a wide general experience.
13262538
Type Your Law Question Here...
Clare is online now

I am buying a property as a buy to let investment with 2

Resolved Question:

Hi I am buying a property as a buy to let investment with 2 of my friends.
My name will not be on the mortgage , only my friend 2 friends name but we will split the cost in 3 equal parts.
My solicitor advise me to do a Trust deed which in my name we are doing, is there any other thing that I could do to be legally protected ? Like a document between thee 3 of us?
Thanks
Submitted: 2 years ago.
Category: Law
Expert:  Clare replied 2 years ago.
Hi
Thank you for your question.
My name is Clare and I will do my best to help you
A Declaration of Trust, registered at the Land Registry is in fact the most effective protection that you can have.
However backing this up with a written agreement signed by all of you setting out the term sunder which the property can be sold and how repairs will be financed would also be sensible
Please ask if you need further details
Clare
Clare and 3 other Law Specialists are ready to help you
Customer: replied 2 years ago.

Hi thanks for your answer, How much would cost to do a written agreement between the 3 of us ? would you be able to do this?

Expert:  Clare replied 2 years ago.
Hi
It would be better done by the solicitor who has all the details already!
Clare