Deed of Trust - Interpretation

Tom99

john1002 wrote: »

ok hopefully the following will help,
we have both paid £1909.76 towards mortgage so the owners value was 86048.18 after the uplift due to property value of 239950 valuation given at mortgage application.
The house was recently valued in DEC at 325000 due to the improvements made primarily a loft conversion adding two more bedrooms and a bathroom.
my initial contribution was 32500 and with improvements and mortgage payment equal the 78881.
so i understand the % split as advised and shown here and also that the monetary split is after the mortgage has been paid off so it makes no difference who's name the mortgage is in as any payout is minus this.
thanks again and hopefully the above has explained the fiqs already quoted.
John

Ok, so the total mortgage payments including capital repayments and interest only amount to £3,819.52 since the DOT is dated?
The DOT is quite clear that the %age split is of the net proceeds of sale ie sale price less EA/Solicitor less outstanding mortgage.
'The Owner declares that she holds the Property, its net proceeds of sale and its net rents and profits on trust for herself and the Beneficiary as tenants in common in the percentage shares specified in:'

john1002

The valuation was not the mortgage amount as the mortgage was only £116000 remortgaged by the owner. This was the value the solicitor used to get the uplift for the DOT.

Totally understand the mortgage bit now so I’m happy with knowing how to get % split and fiqures.

Once again thanks for everyone’s input.

John

getmore4less

That makes the starting point wrong if the place was valued at £239,950 to get a value of £86,048.14

£86,048.14
£ 32,500
£116,000
£234,548.14

There is over £5k missing