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Declaration of Trust
Christine_Hall
Posts: 8 Forumite
Hi,
We are buying our first place, my partner (not married) is putting down the deposit, then everything else is being paid evenly.
When doing our Declaration of Trust & Tennants in Common, would we both be equal share trustees at 50%, but stipulate that any fees, profit/loss is after the deposit figure (rather than %) is taken?
We are buying our first place, my partner (not married) is putting down the deposit, then everything else is being paid evenly.
When doing our Declaration of Trust & Tennants in Common, would we both be equal share trustees at 50%, but stipulate that any fees, profit/loss is after the deposit figure (rather than %) is taken?
0
Comments
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It depends on your choices whether to just ringfence deposit amount to be repaid first or to express deposit as percentage of purchase price and thus uplift. If you are paying mortgage fifty fifty first is easier to work out.0
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We've just done this. My partner will receive a specified amount of money from any sale after the mortgage is repaid. Then the rest of the equity should there be any will be split 50/50. We haven't set it up as a percentage uplift to take into account any inflation or HPI as our thinking is that any of that should be shared equally rather than the initial protected deposit money also growing.0
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I have one taken out with my brother, I put all the deposit down, so when we sell I will receive my deposit back from the sale and then 50/50 on what’s left over0
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Genuinely interested in the answer but why do people go for a £ figure than a %age figure?Surely by going for a £ figure, there'd be no return on any growth the deposit ?0
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