Agreement And Declaration Of Trust Without Solicitor
Description
How to fill out Agreement And Declaration Of Trust Without Solicitor?
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FAQ
Q: Who witnesses a declaration of trust UK? A: You would need an independent witness so someone who is over 18, has full mental capacity and not a family member.
A declaration of trust is a legally binding document, so getting the wording right is very important, and it can be costly to change. It is expected a lawyer will charge fees of between £200 and A£1200.
The fee for a Declaration of Trust will be from £600 plus VAT and will depend on the complexity of the document, the number of clauses it incorporates and any additional consultations required during the drafting process. Following an initial meeting the fixed fee will be confirmed.
Are Declarations of Trust legally binding in the UK? Yes, it is legally binding on the owners. However, in divorce proceedings, a Family Court may disregard this when dividing financial assets. As it is a legally binding document, a Declaration of Trust gives owners protection.
Whilst you do not need a solicitor to prepare a Declaration of Trust, it is always advisable to seek professional advice. For many people, your home is your biggest asset and having a Declaration of Trust in place is the best way to protect your investment.