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Declaration of No Interest

(6 Posts)
ANewDoll Sat 01-Mar-14 06:10:12

I own my house outright. My DP, of over 2 years, currently rents a flat and we have been discussing the possibility of him moving in with me. This makes financial sense as he is happy to give me all his current outgoings towards the expenses of living in my house e.g. council tax, fuel, food, etc.

I went through a very acrimonious divorce a few years ago and ended up having to "pay" the XH quite a substantial amount of money as part of the divorce settlement.

My solicitor has suggested (having witnessed my despair and distress at the time of the divorce) that I should ask my DP to sign a Declaration of No Interest. DP has said that he has no problem signing whatever I want!

Has anyone had any experience of this document?

Collaborate Sat 01-Mar-14 21:04:17

You need evidence that what he's paying you is just for rent, and he's not getting an interest in the property for it. See a solicitor if you want something more formal drawing up.

Nappaholic Sun 02-Mar-14 00:19:25

It's a declaration of trust saying you own 100% of the beneficial interests in the property. It's about as binding as you can get, in the absence of fraud or mistake, especially if the other party has taken legal advice of his own and there is evidence of it.

Collaborate Sun 02-Mar-14 09:41:02

A sole owner of property cannot put the property in trust for themselves. They already own the property(!)

ANewDoll Mon 03-Mar-14 05:14:19

Thanks Collaborate - your comments are much appreciated. Will talk to a solicitor about a more formal agreement.

Nappaholic Mon 03-Mar-14 22:45:18

The legal title to a property can be in the sole name of one party, behind which the beneficial interests can be held by any number of individuals. A simple declaration of trust, signed by the DP, could acknowledge the 100% beneficial interest of the sole legal owner, for a very modest cost of probably less than £100.

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