Deed of Trust

kelly_jo_2

My partner and I have just brought a house together and we are in the process of having a Deed of Trust drawn up between us. I put down the deposit of £128,000 and then we are both sharing the remaining mortgage of £92,000 between us. This gives me a share of 79% in the property and my partner has a share of 21%. If we were to split up and sell the property does this mean that we pay fees and remaining mortgage and then the remainder of profit is split 79/21? Or does it mean that I take my £128,000 deposit and we split the remaining profit 50/50?..... Im a bit confused?

shalmal20

When I did this I had a contract drawn up whereas if the property was ever sold then you would take whatever percentage of the profit that you put down first and then the rest of the profit would be split 50/50. as your original investment should rise in line with the rise in value of the property.

prudryden

Kuztardd wrote:

Interesting to see this thread as we will be doing a deed of trust.
The way we are wording our deed is that all profit would be split 50/50.
But this only because my partner will be putting in a much bigger deposit as me (3times), yet i will be paying a bigger amount each month.
I guess you could get your deed of trust worded in any way you and your man see fit and happy to the both of you.

I have a partner on one of my rental flats. We have a legal agreement that each partner has first right of refusal should the other wish to sell. If no agreement can be reached on purchase price, then property has to go to auction.