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chatham-chamber
chatham-chamber, Solicitor
Category: Property Law
Satisfied Customers: 13388
Experience:  LL.B, Pg.Dip, LL.M, M.B.A (Pending), Solicitor-Advocate. UK Practising Certificate issued by SRA., DIFC Courts Registered (Dubai)
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My friend got a buy to let mortgage for me, I paid the

Customer Question

My friend got a buy to let mortgage for me, I paid the deposit and all fees mortgage repayment, fixed the house up etc.. I lived in the house for 13 years.. the house is now for sale, about to be sold, the guy who's name is ***** ***** deed and me both agree that any funds from the sale are mine ... how can we make this a legal agreement so that the taxes don't go to him, and also so the solicitor can pay the sale money to me directly?
JA: What steps have you taken so far? Have you prepared or filed any paperwork?
Customer: nope
JA: Have you talked to a lawyer about this?
Customer: nope
JA: Anything else you want the Lawyer to know before I connect you?
Customer: cant think of anything
Submitted: 13 days ago.
Category: Property Law
Expert:  chatham-chamber replied 13 days ago.

Hi,

Thank you for your query.

I would suggest that you instruct a local solicitor and request that they prepare a Declaration of trust for you.

A Declaration of Trust, also known as a Deed of Trust, is a legally-binding document that records the financial arrangements between joint owners of a property, and/or anyone else who a financial interest in the property.

The purpose of a Declaration of Trust is to remove any uncertainty as to what will happen to each person’s money. Setting out the financial arrangements between you at the outset will provide clarity, hopefully reducing any disagreements in the future.

I hope this answers your question. If so, kindly rate the answer and provide feedback.

If you have any further questions,please do not hesitate to ask.

Kind regards,