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 Aston Lawyer Your Own Question

Aston Lawyer
Aston Lawyer, Solicitor
Category: Law
Satisfied Customers: 10408
Experience:  Solicitor LLB (Hons) 23 years of experience in Conveyancing and Property Law
16368554
Type Your Law Question Here...
Aston Lawyer is online now

I am lending £20k to a friend which will enable her to move

Resolved Question:

I am lending £20k to a friend which will enable her to move in to a bungalow bought for her retirement. I need a form of words for a deed that will declare a 10% interest in the property held in trust for me by her.
Submitted: 9 months ago.
Category: Law
Expert:  Aston Lawyer replied 9 months ago.

Hi, thanks for your enquiry. I would of course recommend that a Solicitor deal with this for you, to make sure that your financial interest in the property is properly secured, but if you wish to do it yourself, the Declaration of Trust should read- I, xxx of xxxx hereby declare that I hold my property known as***** Anytown upon trust for myself and my friend xxxx so that the proceeds of Sale should be divided so that I am entitled to 90% and my friend xxx 10%. This Deed will need to be signed by your friend and witnessed, in front of a non family member who should sign their normal signature, print their full name and address. You should NOT act as the witness. The Deed should also be dated. In order to protect your interest securely, you should register what is called "a Restriction" on your friend's Deeds. You can do this yourself, by completing the Land Registry Form- RX1. You can download a copy of this Form from the Land Registry and they have information as to what you should put on the Form. I hope this assists and answers your question. If I have helped, I would be grateful if you could rate my answer. Kind Regards Al

Aston Lawyer, Solicitor
Category: Law
Satisfied Customers: 10408
Experience: Solicitor LLB (Hons) 23 years of experience in Conveyancing and Property Law
Aston Lawyer and other Law Specialists are ready to help you
Customer: replied 9 months ago.
Thank you, ***** ***** I acknowledge your recommendation that I consult a solicitor. So as not to upset her partner who has mild dementia and is unreasonable, I wish to hold off registering the Restriction at the Land Registry. Can I do so indefinitely, or is there a time limit from date of signature of the Declaration of Trust?
Customer: replied 9 months ago.
I appreciate this last question may take time to answer. I also appreciate your initial response. I understand fully that delaying registration of the Restriction is not in my interest. But then, neither is lending £20k that I won't see again any time soon. But she's an old family friend that I have known since I was a child, and this will make a difference to her. I anticipate your reply to my email address, and will now close the exchange and provide a rating.

What Customers are Saying:

 
 
 
  • Thank you so much for your help. Your answers were really useful and came back so quickly. Great! Maggie
< Previous | Next >
  • Thank you so much for your help. Your answers were really useful and came back so quickly. Great! Maggie
  • A quick response, a succinct and helpful answer in simple English. I believe I can now confront the counter party with confidence -- worth the 30 bucks! Rick
  • Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help. Mary C.
  • This expert is wonderful. They truly know what they are talking about, and they actually care about you. They really helped put my nerves at ease. Thank you so much!!!! Alex
  • Thank you for all your help. It is nice to know that this service is here for people like myself, who need answers fast and are not sure who to consult. GP
  • I couldn't be more satisfied! This is the site I will always come to when I need a second opinion. Justin
  • Just let me say that this encounter has been entirely professional and most helpful. I liked that I could ask additional questions and get answered in a very short turn around. Esther
 
 
 

Meet The Experts:

 
 
 
  • Jo C.

    Jo C.

    Barrister

    Satisfied Customers:

    30316
    Over 5 years in practice
< Previous | Next >
  • http://ww2.justanswer.com/uploads/EM/emus/2015-7-7_192327_bigstockportraitofconfidentfemale.64x64.jpg Jo C.'s Avatar

    Jo C.

    Barrister

    Satisfied Customers:

    30316
    Over 5 years in practice
  • http://ww2.justanswer.com/uploads/BE/benjones/2015-12-1_0437_ennew.64x64.jpg Ben Jones's Avatar

    Ben Jones

    UK Lawyer

    Satisfied Customers:

    11553
    Qualified Solicitor - Please start your question with 'For Ben Jones'
  • http://ww2.justanswer.com/uploads/BU/Buachaill/2012-5-25_211156_barrister5.64x64.jpg Buachaill's Avatar

    Buachaill

    Barrister

    Satisfied Customers:

    1754
    Barrister 17 years experience
  • http://ww2.justanswer.com/uploads/JO/jojobi/2013-3-19_0265_maxlowryphoto.64x64.jpg Max Lowry's Avatar

    Max Lowry

    Advocate

    Satisfied Customers:

    894
    LLB, 10 years post qualification experience
  • http://ww2.justanswer.com/uploads/UK/UKLawyer/2012-4-12_9849_F2.64x64.jpg UK_Lawyer's Avatar

    UK_Lawyer

    Solicitor

    Satisfied Customers:

    750
    I am a qualified solicitor and an expert in UK law.
  • http://ww2.justanswer.com/uploads/KA/Kasare/kasare.64x64.jpg Kasare's Avatar

    Kasare

    Solicitor

    Satisfied Customers:

    402
    Solicitor, 10 yrs plus experience in civil litigation, employment and family law
  • http://ww2.justanswer.com/uploads/OS/osh/2015-7-7_19268_gettyimagesb.64x64.jpg Joshua's Avatar

    Joshua

    Lawyer

    Satisfied Customers:

    8199
    LL.B (Hons), Higher Prof. Dip. Law & Practice