How to protect your share of a home bought with a relative or friend

At In-Deed, we are often asked questions by clients on specific aspects of conveyancing, all of which we aim to answer as quickly and as thoroughly as possible. In our regular blog, we'll look in depth at some of the most common questions posed by buyers and sellers, remortgagors and those seeking a transfer of equity.

Title deeds can often seem a complicated business. An In-Deed client recently told us: "My sister-in-law sold her home and bought a home with her son for £500,000. Her name is not on the title deeds. Instead only her son and his wife are named there. Can she have her name added to protect her share of the home?"

Deed of Trust spells out legal ownership

Adding someone to the title deeds means a change in the registered ownership of a property, and so it's essential that everyone involved in this transaction get independent legal advice.

However, in general terms, where two or more people have purchased a home together, it should be relatively straightforward to draw up an agreement that spells out everyone's share.

The simplest way to do that is through a Deed or Declaration of Trust. This legal agreement can outline in detail individual shares in a property, how much each person contributed to the purchase and what happens in the event of the death of one of the property owners.

Agreement of all parties

You can also ask your conveyancing solicitor to include a clause that the property cannot be sold without the agreement of all parties. The Deed of Trust protects everyone's share, investment and occupation rights.

alk to In-Deed's team today to find out how our expert conveyancing solicitors can draw up a Deed of Trust for you to protect your home. We're available seven days on 0800 038 6886.