Deed of trust?

[Rissolesfortea]

Anyone know much about this and what it entails/protects? Any advice would be most welcome, thanks.

Deed of trust for what? What's going to be put in trust? Is it being suggested in connection with how you own your house with another person?

Yes, mrs its regarding a house purchase.

If you are buying a house with someone to whom you are not married the deed of trust specifies what proportion of the house each of you owns. If you separate the deed of trust will determine the way the house is shared between you.

Thank you for the reply. We are married, I am 12 yrs older than my DH and am retired. In order to get the maximum years mortgage it means that my DH alone will be on the deeds and I will have a deed of trust for half the house. Just wondered if this was a safe way to go about getting my share.

Thank you for explaining.

The only reasons for which a deed of trust would be useful to you is if your husband is made bankrupt, he has creditors that might take security on the home, and for you to be able to leave your share of the property in your will.

For the purpose of divorce, it won't make a difference.