Declaration Of Trust

redmalc

Hi All

My son and his partner asked if we would help them financially with their house purchase recently and the Solicitor drew up a DOT agreement between the two of them and myself and my wife.
We put in 80K and they had a 115K mortgage and the remainder was equity from their sale, the lawyer gave us the DOT agreement signed by all parties and witnessed by himself and it read that if they wished to pay us of interest free or in the unlikely event of seperation we could give them twelve weeks notice we require our money back and the house would have to be sold.
The solicitor told me to register the DOT with Land registry which i have tried to do this morning and they advise i would need to complete Form A or Form B depending on what i want to do has anyone any idea what ithe difference is between form A and B

paddyz

I’ve had 2 done in the past and the solicitor did all the work to have it sent to them, surely that’s what they get paid for ?

Tom99

Form A i.e. place a Form A restriction on the title will just prevent a sole surviving owner form selling the property without a court order or involving a 2nd trustee. I am not sure, but I don't think the Land Reg actually keep a copy of the DOT.

00ec25

as above, why is your solicitor not dealing with this?

a forum such as this is really not a great place to ask for legal advice you need to rely on

google says this, I have no idea what it means:
Where a Form A restriction is considered insufficient to protect a beneficiary’s interest under a trust of land, they may also apply for a restriction in Form II. A restriction in this form should ensure that the person named in the restriction receives notice of the disposition, thereby giving them the opportunity of pursuing the proceeds of sale.

If the beneficiary’s consent is required under the terms of the trust, an application may be made for a Form B restriction.

https://www.gov.uk/government/publications/notices-restrictions-and-the-protection-of-third-party-interests-in-the-register/practice-guide-19-notices-restrictions-and-the-protection-of-third-party-interests-in-the-register