Declaration of trust advice

Red-Squirrel_2

flosswoss21 wrote: »

Myself and my partner are currently in the process of buying, with him investing about £90k into the pot. We are drawing a declaration of trust up so that the £90k is seen as a % of the house value, so that in the event of us separating he will get whatever that % is, and all other equity is then split 50/50. Solicitor is drawing this up for us. This allows for him to take value rise of his deposit money (as in that it is an investment and could have earned interest in a savings account or similar situation) rather than it being static.

We are not married but I would have thought that as this was a legally binding agreement it would stand in the event of a a divorce?

I would have thought that a marriage certificate would take precedence and supersede the DofT, as with wills and so on.

KRB2725

I appreciate that couples organise finances in different ways, but you're seriously asking if you should charge your wife interest???

If my husband had written this, we would not be buying the house.

Pixie5740

I think the horse has bolted. You're married now and that's that.

Thrugelmir

Have children together and the ball game will take a totally different twist if you part.

There's no harm in you having an interest in the first £50k of equity though. To cover the eventuality that your relationship doesn't last very long.