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My client and his wife lived in one property that they owned as their main residence. They subsequently bought a second property in 1994, but it was purchased in the name of one of their sons.
We have assumed that this was a gift rather than a bare trust. The second property was used for holidays. Their son occupied it as his main residence.
My client and his wife lived in one property that they owned as their main residence. They subsequently bought a second property in 1994 but it was purchased in the name of one of their sons.
We have assumed that this was a gift rather than a bare trust. The second property was used for holidays. Their son occupied it as his main residence.
In 2000 their son transferred the property into the joint names of himself and his brother. On the same date the two brothers declared a trust where they hold the property as tenants in common. The beneficiaries of the trust are their parents whom it states in the recital provided the whole of the purchase price. The trustees agreed to let the beneficiaries occupy the property as long as they may wish with no rent paid and the beneficiaries can instruct the trustees...
Please reach out to customer services at +44 (0) 330 161 1234 or 'customer.services@lexisnexis.co.uk' for further assistance.
