Deed / Declaration of Trust for Property

Buying property with someone else? A deed of trust protects your money by recording exactly who owns what share.

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• Typical cost: £150-£400 (depending on complexity)
• Timeline: 1-2 weeks from instruction to completion
• What it does: Records who owns what share of the property
• When you need one: Buying with unequal deposits or contributions
• Legal status: Legally binding document enforceable in court
• Our promise: Fixed legal fees with no hidden costs

A deed of trust in the UK, also known as a declaration of trust, is a legally binding document stating the division of ownership of a property. It is used by tenants in common who have paid different amounts into the purchase of the property.

Once the deed of trust is in place, both parties will know exactly where they stand if the property is sold, or one person wants to be bought out in the future.

Setting out these financial arrangements from the outset in a deed of trust removes any uncertainty as to what will happen to each person's financial investment in the property and will hopefully reduce any future disagreements.

A deed of trust is a bit like a prenuptial agreement - it keeps the assets of one or both partners safe in the case of a break-up or dispute. It is a valuable tool for a variety of people and offers that peace of mind.

Without a deed of trust, both owners would own an equal share (50%/50%) of the property regardless of their contributions.

Because everyone's situation is different, having a deed of trust contract drawn up by a conveyancing solicitor not only protects each party's investment, it alleviates the risk of disputes should the relationship come to an end.

Joint tenants or tenants in common

When you buy a property with another person, you will be asked whether you want to be joint tenants or tenants in common. It is entirely up to you which one you choose depending on your individual circumstances.

The right choice for you will depend on a number of different factors, including your own situation and the relationship you have with your co-purchaser.

Ordinarily, when you buy a property, you will be listed as joint tenants. It means that if something were to happen to either owner, the other would inherit the property outright.

If you'd rather share the property with family however, or if you're contributing different sums of money, you can opt to be tenants in common and have a deed of trust created to protect your individual shares.

For example:

Sam and Sarah buy a house together for £250,000.

Sam has put in 60% of the deposit, whereas Sarah has only contributed 40%.

A deed of trust will ensure that if they come to sell the property, Sam will get back 60% and Sarah will get 40%.

If there was no deed of trust in place, the couple could enter a dispute over who owns what share of the property. There would be nothing to legally stop Sarah claiming 50% instead of her 40% as the property is owned jointly.

The most common use for a deed of trust is to keep a legal record of the different contributions made towards a property. Here are the situations when people typically need one:

Unmarried couples with unequal deposits

One person puts in more deposit money than the other. A deed of trust ensures they get their larger contribution back when the property is sold.

One person pays the whole mortgage

Both names on the title deeds but only one person pays the mortgage every month. The deed records that the paying person's ownership share increases monthly.

Parents helping with deposits

Parents lend money for the deposit but aren't on the title deeds. A deed of trust protects their contribution and ensures it's repaid when the property sells.

Relationship breakdown protection

Unmarried couples buying together. If the relationship ends, the deed prevents disputes about who owns what share. Each person gets back exactly what they put in.

Friends or family buying together

Multiple people buy a property with different contribution levels. The deed records each person's exact share and how rental income or sale proceeds are split.

Deed of trust costs depend on how complex your arrangement is:

What's included:

• Drafting the deed to your specific circumstances
• Legal advice on ownership structure
• ID and anti-money laundering checks
• Registration if required

When you pay: Typically upfront when instructing the solicitor, or on completion if arranged as part of a property purchase.

Best time: When you buy the property. Your conveyancing solicitor arranges it alongside the purchase.

Can you add one later? Yes. You can create a deed of trust any time after purchase, as long as all owners agree. It can't be backdated but it records the ownership position from the date it's signed.

Updating an existing deed: If circumstances change (someone makes extra contributions, you want to change the terms), you can amend or replace the deed. All owners must agree.

A deed of trust that doesn't affect the mortgage lender's security doesn't require the lender's consent. When drawing up the deed of trust, your solicitor has an obligation to act in the best interest of you and also the mortgage lender during the purchase of property.

Because the deed of trust can be drafted either during the conveyancing process when you bought the property, or at a later date during your ownership, the question of whether your mortgage lender needs to be informed of the deed is one that only your deed of trust solicitor can answer. This is because each situation is different.

We've established an excellent reputation you can trust and helped over 34,000 customers in the past 15 years. 

Our conveyancing solicitors are regulated under the Solicitors Regulation Authority (SRA) and Council for Licensed Conveyancers (CLC). 

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