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1. Dear Shahin, you can't be both owner of a property and the holder of a charge over it. In other words, you cannot charge your own property in your own favour. It is only a third party who can hold a charge over your property. Your ownership (and the deposit funds) are protected by your name appearing on the Folio in the Land Registry (the Title deeds). You don't need to and it is not possible legally, ,to create a second charge over your own property to safeguard deposit funds you have put in.
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My name is ***** ***** I have been a solicitor for more than 30 years.
My colleague is correct you cannot take a Charge out - but you can protect your investment either by owning the property as Tenants in Common in unequal shares or by way of a Declaration of trust
3 . In what shares is the property owned at the moment? Whose names are ***** ***** title deeds and in what proportion? Be aware that both owning the property in unequal shares as tenants in common and making a declaration of trust require the consent of the other co-owner, so they will not be options if you are in a divorce situation.
4. Yes, you can make a declaration of trust for the amount of the deposit you put in. However, I would caution you that this will not protect the property in a divorce scenario because a divorce court can unlock trusts and make an order which it considers just. However, you can certainly make a Declaration of Trust for the 100k and use it to pay school fees for your children.
5. You are better off to have a separate Declaration of Trust for each property rather than one for all of them. That way a court is less likely to attack them. It is also more transparent if they are for school fees.
Since you own the property a Declaration of Trust is not possible.
That would only be relevant if the property was held in joint names
It is for the court to decide what is a fair distribution
You cannot have a Declaration of Trust in your favour on a property that you own - since you already own it.
It would only be a possibility if the Declaration of Trust stating that you own the property on behalf of yourself and someone else - the opposite of what you wish to achieve
A declaration of trust is always possible in favour of your children for their school fees. You were never going to make a declaration of trust in your own favour where you owned the property. That was not suggested. I am also sure you have no obligation in making a Declaration of Trust in favour of your children so they can pay their school fees out of this property interest, in spite of what that other Expert Clare would state.
A Declaration of Trust in respect of the school fees of your minor children will have no validity.
There is no legal obligation on the children to pay their school fees and accordingly you would need to create a format Trust, with Trustees and vest the property in them if that is what you wish to achieve
In addition none of this will actually protect the funds in the event of a divorce