From Move-In to Mortgage: Key Milestones for Your Deed of Trust

 
16/06/2025
5 min read

Buying a property together — whether with a partner, friend, sibling, or investor — is more than a milestone. It’s a long-term commitment. While you’re choosing curtains and Googling how to assemble IKEA furniture, there’s one detail you don’t want to overlook: your Deed of Trust.

A Deed of Trust (or Declaration of Trust) is the legal roadmap that outlines exactly who owns what, who paid what, and what should happen as life unfolds. It's not just a snapshot — it should evolve with the journey of homeownership.

This guide breaks down the key milestones in the life of a property and shows you exactly how your Deed of Trust can cover each one. From move-in day to mortgage repayments and even the dreaded “what ifs,” here’s how to keep your investment — and your relationships — protected.

1. The Big Buy: Move-In Day

Milestone Moment:
You’ve found the one (the house, that is). You've exchanged contracts, transferred deposits, and picked up the keys.

What to Include in the Deed of Trust:

  • Ownership shares based on contributions (e.g., 60/40 if one person paid more of the deposit)
  • Breakdown of costs: deposit, stamp duty, solicitor fees
  • Gifted money or loans: note who gave what and whether it’s to be repaid

This sets the foundation. It's the “who owns what” part — and it should reflect the financial reality behind the ownership.

2. The Mortgage Milestone

Milestone Moment:
Monthly repayments begin. Whether you're splitting things equally or one person contributes more, this needs to be tracked.

What to Include in the Deed of Trust:

  • Mortgage payment responsibilities
  • Impact on shares: Does paying more mean owning more?
  • Plan for if someone can’t pay their share (illness, job loss, etc.)

You can also agree on whether mortgage overpayments count as increased equity or just help pay down the balance faster.

3. Real Life Expenses: Bills & Upkeep

Milestone Moment:
Welcome to adulting. Utilities, council tax, insurance, repairs — they pile up fast.

What to Include in the Deed of Trust:

  • Who covers day-to-day property costs
  • How major repairs or improvements are handled (especially if one party foots the bill)
  • Whether future spending increases someone’s share

You’re not just sharing a roof — you’re sharing responsibility.

4. Changes in Contribution

Milestone Moment:
Life isn’t static. Maybe one owner gets a raise and wants to pay more. Or another decides to go part-time and contribute less.

What to Include in the Deed of Trust:

  • Whether shares are fixed or floating
  • How any change in contributions will be recorded
  • If there’s a timeline for regular reviews or updates

A Floating Deed of Trust can accommodate evolving shares, especially useful when contributions are unequal or irregular.

5. Renovation or Extension

Milestone Moment:
You redo the kitchen. Add a loft. Build an outdoor office. One person pays for it, the other doesn’t.

What to Include in the Deed of Trust:

  • Who paid for the improvement
  • Whether it changes ownership shares
  • How added value is calculated (if at all)

You don’t want a dispute years later about who “owns” the new bathroom.

6. Relationship Changes: New Partners or Separation

Milestone Moment:
Maybe one of you gets married or wants to move a partner in. Or maybe... it’s time to part ways.

What to Include in the Deed of Trust:

  • Rules about cohabitation or bringing in new occupants
  • Buyout process if one owner wants to leave
  • Terms for a forced sale or valuation method

Breakups can get messy. Your Deed of Trust should make sure the property side stays clean.

7. Renting Out the Property

Milestone Moment:
You move out and rent it out. Or one of you wants to Airbnb a room for extra cash.

What to Include in the Deed of Trust:

  • Agreement to rent (all parties must consent)
  • How rental income is divided
  • Who manages the property and tenant issues

Think of this as a pre-nup for landlords.

8. Refinancing or Equity Release

Milestone Moment:
You decide to remortgage for a better deal — or borrow against the property’s value.

What to Include in the Deed of Trust:

  • How refinancing decisions are made
  • Who pays the new terms
  • Whether equity withdrawals are shared or individual

Money in, money out — it all needs tracking.

9. The Final Chapter: Selling the Property

Milestone Moment:
You’ve had a good run, but it’s time to sell and move on.

What to Include in the Deed of Trust:

  • When and how the property can be sold
  • How the proceeds will be divided (after fees, taxes, mortgages, etc.)
  • If one person wants to keep the property, how buyout will work

Even a smooth sale can turn sour without clear instructions.

10. Death or Inheritance

Milestone Moment:
One co-owner passes away. It’s hard enough emotionally — don’t make it harder legally.

What to Include in the Deed of Trust:

  • What happens to that person’s share
  • Whether it passes to the other owner or to their estate
  • Whether a Will needs to reflect the same instructions

If the Deed contradicts the Will, it can lead to disputes — make sure they align.

Bonus Tip: Dispute Resolution & Exit Plan

Every Deed of Trust should include:

  • How disputes are resolved (e.g. mediation, solicitor, court)
  • A clear exit strategy if the agreement no longer works for one or more parties
  • The process for updating the Deed (because life changes)

The Bottom Line: Your Deed Should Grow With You

A Deed of Trust isn’t a one-time document. It’s a dynamic agreement that should be reviewed whenever your situation changes — just like you’d update your Will, insurance, or bank accounts.

It’s not about preparing for disaster. It’s about protecting everyone’s interests — and keeping things fair.

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