What is excluded from the service?
- The advice can only be given if acting for one party otherwise instructions will be taken on a drafting the only basis.
- If there is an existing charge over the property, Stamp Duty Land Tax (SDLT) could be payable. Please speak with us to understand if this will affect you. Even if there is no SDLT to pay, an SDLT return may need to be filed with HMRC and there is a cost of £75 + VAT to deal with this.
- Legal advice outside of the service requested.
What are the disbursements for a Declaration of Trust?
- We will need to get an up-to-date copy of the title for a fee of £3 from the Land Registry and, if there is no property transaction alongside the Declaration of Ownership, there will be a fee of £20 to register this with the Land Registry.
- Disbursements are payable before we incur the cost.
How long will a Declaration of Ownership take?
We can provide a draft of your document within 7 days of receiving your instructions and funds on account, although this can often be sooner. If you have any specific timescales you need to work towards, please let us know.
What should I expect?
- We will ask you to confirm your instructions in writing
- We will take the fees upfront
- We will obtain a copy of the title for the property
- We will send you a draft for approval
- We will arrange for you to execute the deed and, when ready for this to be registered against the title of the property