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Buachaill
Buachaill, Barrister
Category: Law
Satisfied Customers: 10794
Experience:  Barrister 17 years experience
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My son purchased a property in which I reside and had presented

Resolved Question:

My son purchased a property in which I reside and had presented me with a document
Declaration of Trust
Which states theat he hold the property upon Trust for myself (the Beneficiary) absolutely
Submitted: 1 year ago.
Category: Law
Expert:  Buachaill replied 1 year ago.
1. Dear Tina, this is a perfectly acceptable method of creating a trust. In this situation, your son will be the legal owner and his name will appear upon the title deeds. However, you will be the beneficial owner and the property will be in reality owned by you and held for your benefit. However, you should also consider what will happen if you die. In this arrangement, as things stand, you will be able to will the benefit of the property to whoever you wish. However, you should make sure your son understands this fact. You should also have some notification placed on the title deeds that your son only holds the property in trust. This protects you should you fall out and your son seeks to sell the property. A purchaser will be aware that you are the beneficial owner. But this should be stated on the title deeds.
Expert:  Buachaill replied 1 year ago.
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