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Remus2004
Remus2004, Barrister
Category: Property Law
Satisfied Customers: 2447
Experience:  Over 5 years in practice.
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My son and son-in-law are jointly buying a property to rent

Customer Question

My son and son-in-law are jointly buying a property to rent in the UK. The s-i-l is putting up 50%cash and my son is obtaining the mortgage for the other 50%.Complication is that the s-i-l lives in Singapore (for work-he is a UK citizen). Our initial intention is that my son has both the deeds and mortgage in his sole name to effect the transaction but we need to protect the s-i-l's cash contribution. My idea is that we do a 'side letter' pending completion and then register the s-i-l's interest at the Land Registry on the Charges Registry. Does this sound reasonable and is there any template or legal form we can use for the 'side letter'?
Submitted: 2 years ago.
Category: Property Law
Expert:  Thomas replied 2 years ago.
Hi
Thanks for your question.
Has your son instructed solicitor yet and if so have they spoken to him about a declaration of trust?
Kind regards
Tom
Expert:  Thomas replied 2 years ago.
Hi,
Are you able to respond to the above post in order that I may provide you with an answer please?
Kind regards,
Tom
Expert:  Thomas replied 2 years ago.
Hi,
Are you able to respond to the above post in order that I may provide you with an answer please?
Kind regards,
Tom

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