There are some instances, when the person who legally owns a property and has their name on the title deeds, may want to entrust all or some of the ownership to another person. When this happens, the details should be documented in a trust deed.
You’ll need to consider a trust deed:
- If you buy a property with a friend or partner and put in different sums of money
- Under-18s cannot legally own land or buildings. If a minor inherits a property, or if parents buy a property as an investment for their children, an adult must hold it on trust for them
- A maximum of four people can jointly own land and buildings. If more than four people share ownership, they will need to have a trust deed.
Unlike ownership of land and buildings, which is a matter of public record, trust deeds are private documents.