Legal Question in Real Estate Law in United Kingdom

If the sole owner and deed holder of a property who is named as the first owner on a Declaration of Trust between himself and a named second owner that states, " The first owner hereby agrees to hold the beneficial interest in the property on trust for himself and the second owner in equal shares", however only the first owner/deed holders signature and their witness appear on the declaration is the first owner legally bound to act in the beneficial interest of both parties if the second owner has not signed and witnessed the declaration as well where there is provision for him too do so?

Thank You,

Nigel Moore.


Asked on 4/29/14, 7:54 am

1 Answer from Attorneys
Fca Prashant Chavan Expert Edge LLP

29.04.2014

Dear Sir / Madam,

In any property transactiion of joint ownership, the first named holder is always authorized to be acting in the beneficial interest of the second holder. But it must also be understood that the fist named holder is legally deemed to be recognized as the owner of the property.

Regards,

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Answered on 4/29/14, 9:20 am


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