In the absence of an express declaration in a deed or other document a beneficial interest may be acquired by way of a Constructive or Resulting Trust. A beneficial interest may also be acquired if you have been promised an interest in the property and acted upon that promise to your detriment.
A Resulting Trust can be found to exist by reference to the contributions made to the property, either at the time of purchase or subsequently. Contributions can be either direct contribution to the purchase price or deposit or by being a party to the mortgage. The contributions will nearly always result in a corresponding beneficial interest, although cases of Resulting Trusts are becoming quite rare.
A Constructive Trust can be implied if a common intention about the beneficial ownership either at the time of purchase or subsequently can be established. It's not necessary to have an explicit conversation about the beneficial ownership. The Court will look at the conduct of each of the parties.
Cohabitation and living together is a complex area of law. It's important that you give yourself the best possible protection. To do this you need an express declaration or Trust Deed and therefore you should consider entering into a Living Together or Cohabitation Agreement.
Alternatively, if you think you may have an interest in a property regardless of whether you are named on the legal title, you should consider seeking expert legal advice before signing away any interest or entering into any agreement.
Slater and Gordon has the largest team of Family Lawyers in the UK and can provide immediate legal representation anywhere in England & Wales. We offer both flexible pricing and fixed fees for Constructive & Resulting Trusts and for all our family law services.
For an initial consultation call our Family Law Solicitors on freephone 0161 830 9643 or contact us online and we will call you.
Slater and Gordon Lawyers is one of the UK's largest and well known law firms with offices in London, Manchester, Watford, Liverpool, Chester, Birmingham, Sheffield, Cardiff, Edinburgh, Cambridge, Milton Keynes, Preston, Wakefield and Wrexham.