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Declaration of trust

  • chris60
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26 Aug 14 #442932 by chris60
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I was just wondering if someone could please give me some advice.My wife and I have split and I am now renting a property.The house and deeds are in both names and there is considerable equity in the property,however when My wife got divorced from her 1st husband they co-signed a declaration of trust document which entitled her 3 children to 75% of the proceeds upon sale of the property and 25% to her Absolute.all her children are over 21.We have been seperated 5 months and are both in full time professional jobs.Any help would be much appreciated.

Chris.

  • LittleMrMike
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27 Aug 14 #442967 by LittleMrMike
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It''s not easy to answer this one without seeing the declaration, to be honest.

Are you say that you live in a house provided by someone else and to which you made no contribution ?

I think it would be dangerous for me to try and advise without knowing more. It''s just one of those cases where we are being asked to advise on a document we have not seen. For obvious reasons this is not possible.

If the declaration of trust was a device to tie the hands of the Courts then it''s possible that it could be questioned in legal proceedings, but frankly, you need a solicitor here.

LMM

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27 Aug 14 #442987 by chris60
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Hi Mike,
Many thanks for your reply.We have both been living in the matrimonial home for 11 years and married for 4 and yes we have both contributed to the mortgage although it has only been in joint names for the last 4 years.I am well aware that a trust like this is a legally binding document.My question I suppose was Am I within my rights to challenge for half of her 25%, ie 12.5%.I should have said that in my previous post sorry.By the way there is no charge on the title deeds nor is there any mention of it with regards to the deeds.It quite simply is a declaration to assure that their children would benefit should the marriage break down as it has.The reason the marriage has broken down is because of this trust.I quite simply refuse to put any more money into the property as all i am doing is lining her childrens pockets.

Chris

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