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Hi, a Declaration of Trust is nearly always personal to an individual property. I am not sure what happened when he sold his last house, but it would have been normal for your financial interest to have been protected by way of a Land Registry Restriction. Was this done? Kind Regards Al
Hi, thanks for your reply, and apologies for the delay in replying. I am afraid that the existing Declaration won't be binding on the new property and you do really need to get a new Declation drawn up. If the new property is in your on's sole name, you won't need to obtain his wife's consent but if it is in joint names, you will need her consent. To give you security, you should also make sure that a Restriction is placed at the Land Registry which will prevent your sonselling the property without your written consent that the Declaration of Trust has been complied with. Otherwise, he would be free to sell without you at that time deciding whether or not to enforce the terms of the Declaration. I hope this assists you and sets out the legal position. If I have helped, I would be grateful if you could rate my answer. Kind Regards Al
Hi, if the Mortgage is in joint names, I'm afraid the Deeds will also be in joint names (unless they have a unique HSBC Bank mortgage which allows 2 parties to be on the Mortgage but only one party on the Deeds). Sorry Al
Hi, provided you keep hold of the Declaration of Trust, that is evidence of any possible future divorce dispute. Ideally, if his wife won't agree to sign a new Declaration, your son should sign a simple letter, witnessed by a non family member, that he acknowledges that the provisions of the original Declaration of Trust have not been fulfilled and that therefore he still owes you £x. I hope this helps. Kind Regards Al