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This Declaration of Trust - Beneficial Interest is a declaration by one or more individuals that they hold a property on trust for themselves and a third party beneficiary. The document contains an express declaration that the property is held on trust for the legal owner and the beneficiary as tenants in common and sets out the extent of their respective beneficial interests.


This Declaration of Trust - Beneficial Interest shall be used where there is a sole legal owner of the property holding the property on trust for himself and one other individual, the beneficiary. The owner and the beneficiary are both individuals. However, the document can be adapted to provide for up to four legal owners and/or for additional beneficiaries. Please note:  a legal estate can be held by a maximum of four people, if more than four people are named as the legal owners of a property, the legal estate vests in the first four named who are able and willing to be the legal owners. Also, if there are additional beneficiaries it has to be determined if the beneficiaries hold the property as tenants in common, with each person having a distinct share, or as joint beneficial tenants.


This Document Template can be used whether the property is freehold or leasehold. It assumes that the property is situated in England or Wales and the parties are resident and domiciled in England or Wales. It is intended for use where the declaration of trust is being entered into contemporaneously with the transfer, conveyance or lease of the property to the owner.


This Declaration of Trust is fully comprehensive, it provides that the parties have agreed fixed percentages for their beneficial shares in the property also, it contains provisions for the protection of the beneficiary requiring the owner to obtain the beneficiary's consent to any dealings (for example the owner must obtain the beneficiary's consent before entering into any mortgage of the property in the future).


This Declaration of Trust - Beneficial Interest is in Microsoft Word format, written in plain English, easy to use and edit.