Used by legal owners who have someone living in their property or moving into their property over the age of 18 for whom they want to confirm the position that they have no beneficial interest in the property regardless of what they pay toward the property. It may also be used as part of a divorce settlement where one party remains on the legal title and mortgage but will have no beneficial interest in the property.
This service is available at a Fixed Fee of £240 INC VAT. Terms apply.
Frequently Asked Questions
We have created a template declaration to confirm a zero beneficial interest position; either as part of a divorce settlement or if someone moves into your property and you want them to have no beneficial interest. The declaration of no interest in property includes the following clauses:
- Lists the names of all legal and beneficial owners
- a declaration of no interest in property for either a legal or non-legal owner confirming no future entitlement to any capital proceeds from the sale of the property, to income or to occupy the property.
- Surrendering of any claim to an existing beneficial interest. The party signing away a benefit in land/property should seek separate legal advice as to the implications before signing declaration.
- Confirmation the party/ies with a beneficial interest can sell or transfer the property at any time.
We can add additional clauses into the declaration of no interest in property to suit your intentions/circumstances however these will be chargeable at our solicitors hourly rate. Email us for a bespoke quote on thelegalteam@parachutelaw.co.uk
The declaration makes no reference to the actual beneficial ownership for the property so if you require this you should look at our Basic Deed of Trust.
Talk to a solicitor
We are friendly and helpful so please get in contact today to get straight talking legal advice from a specialist solicitor about a declaration of no interest in property, deed of trust or independent legal advice for your mortgage product.