What is a declaration of trust, and what does it do?
A declaration of trust is a legal document which sets out who owns what. It is a document in which one person declares that they hold assets on trust for the benefit of one or more beneficiaries. A declaration of trust is a legally binding document which can be used to formally record the financial arrangements between owners of a particular asset.
A declaration of trust is most commonly used in family disputes in relation to property which has been purchased jointly by a couple, and/or with the financial assistance of someone else, such as a gift/ inheritance from parents. Within the declaration of trust you are able to record who has paid the deposit for a home, and how you would want to split the proceeds of sale in the future if you were to separate. It can provide clarity at what may be a difficult time, and hopefully reduce any disagreements in the future in the event that you separate from your partner and wish to protect your parents’ bequest.
Related FAQs
The Grant of Probate is the legal document issued by the Probate Registry which confirms that the executors of the Will have the legal authority to deal with the estate.
The new rules for wearing face masks/face coverings in the workplace introduced on 23 September 2020 are as follows:
- Staff in retail, including shops, supermarkets and shopping centres, will now have to wear a face covering
- Staff in hospitality will now have to wear a face covering
- Guidance stating that face coverings and visors should be worn in close contact services, such as hairdressers and beauticians, will now become law
- Staff working on public transport and taxi drivers will continue to be advised to wear face coverings
You can take off your mask if:
- You who need to eat, drink, or take medication
- A police officer or other official asks you to
Within divorce proceedings, the court can order that a property is sold and that the mortgage is discharged from the proceeds of sale before the remaining balance is distributed to the parties, thus bringing the mortgage to an end.
The court also has the power to order that a property owned in joint names is transferred into one of the spouse’s sole name. However the court cannot order the mortgage provider to transfer the mortgage into one of the parties’ names. A number of options are available to resolve this. Depending on the financial circumstances, the spouse receiving the property may be able to re-mortgage the property into their sole name. If that is not possible and the mortgage has to remain in joint names, the court may require the spouse retaining the property to be responsible for the mortgage and provide an indemnity to the other party so that if they stop paying the mortgage, the other spouse can take action against them. Alternatively, in certain cases, a court may transfer the property into one spouse’s name but order that the other spouse continues to pay the mortgage, perhaps for a period of time such as until children reach a particular age.
Potentially, yes. If someone refuses to follow the health and safety measures that have been put in place to protect them, colleagues and possibly their customers, including (where appropriate) the use of PPE then this is a disciplinary issue and should be dealt with as such. Repeated failure to comply with the requirement to follow these measures, or a one off significant failure, may be sufficient to justify dismissal, depending on the circumstances.
Yes – there should be a framework in place to ensure that MHFAs are fully supported themselves and so that individuals are supported beyond the support the MHFAs provide.