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Deed of Trust

3 replies

SalaDaeng · 25/08/2022 12:49

DH and I have bought a property. We are tenants in common. We would like to split the interest in the property in my favour, probably 80%/20%. I understand we need a deed of trust. Does this need to be done by our conveyancing solicitor or can it be done any other way? (We previously had a bad experience of being charged a huge amount of money to do a basic POA and subsequently discovered (through Age UK) that we could have done it much more cheaply ourselves and could even have got a discount due to my health problems.
Solicitors say they can do it, but it will cost several hundred pounds.
TIA for any info/advice.

OP posts:
PissedOffNeighbour22 · 25/08/2022 14:43

We had one done 18mths ago for the same split as you. We had it done at the same time as conveyancing as it was one of the questions on the list the solicitor sent to us about the property we were buying.

I certainly don't recall it costing hundreds. Sorry, I don't know if you can have it done by anyone else. I'd be questioning that cost though - sounds a lot.

SalaDaeng · 25/08/2022 17:18

Thank you. We thought that it was included in the conveyancing process, but as it wasn't, we went back to the solicitor and it seems that they can do it, but it will cost extra...
I think we are somewhat over a barrel here.
It needs to be done properly and from googling, it appears that it should be done by the solicitor and it isn't advisable to try and do it ourselves. The tenants in common bit is documented, but as a 50/50 split.

OP posts:
Wishingwell2022 · 26/08/2022 00:11

We had one done at the time of going through the legal paperwork to buy (2 months ago) and it cost £150 + vat.

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