Declaration of Trust - after completion?

debsinbrighton

My partner and I are buying a flat and we complete on Thursday.

We're trying to get a declaration of trust drawn up to reflect the fact that my partner has a financial interest in the house, despite not being named on the deeds. However the document has just come through from the solicitor but it does not correctly reflect what we wanted it to say.

My question is this - is it possible to sort out the declaration of trust after we complete, or does it need to be in place before the completion date in order to be legally binding?

I'm a little concerned that there isn't time to get it amended, signed and witnessed before completion.

Kyrae

As far as I remember, we signed our declaration of trust a couple days before or after completion, it was very much a mad last minute rush as our solicitors were very disorganised!! I think the important bit is that when the solicitor completes and sends off the land registry documents, they attach a copy of the deed of trust so that no one can sell the house without the other person's permission etc. I guess this can be done after completion, though I could be wrong! Make sure the deed of trust covers what happens if you or your partner want to sell the house, eg the house must be put on the market within 30 days of written notice to the partner, just incase the worst should happen! My partner's solicitor originally didn't write this into the deed, and the solicitor representing myself made sure it was included as apparently it can cause problems if there's a nasty break up and one person drags their heels about selling. Fingers crossed that would never happen, but better to have all situations covered just incase

debsinbrighton

Thanks for your advice.

We managed to get through to the solicitor today and she advised that it can be done after completion, so we are going to sort it out over the next few days when things are a little less rushed.

kkgree1

It took me over a year to write mine with my parents and can be done any time after completion.