Deed Signing Hesitation

If the other parties refuse to sign the deed of trust, you may face challenges in establishing your ownership rights and interests in the property. Without a deed of trust, the legal presumption is that all parties own the property equally, regardless of their financial contributions, potentially leading to disputes if a sale or refinancing is required.

To protect your financial contribution without a signed deed of trust, ensure that the property is registered in joint names with a declaration of trust filed with the relevant authority. This documentation should specify your deposit amount and beneficial share, outlining each party's interest in the property.

Consider employing a cohabitation agreement that outlines the financial arrangements and property rights between you and your co-purchasers. This can specify how the property will be sold or divided and what happens to your initial deposit. Additionally, a declaration of trust should be drafted to clearly represent your interests.

To accurately reflect your deposit and beneficial share on the deed of trust, ensure it specifies the exact percentage of ownership each party holds. This includes documenting your initial deposit and any beneficial interest from external entities.

Having a deed of trust can impact tax liabilities such as capital gains and stamp duty, especially if the property is not your primary residence. It is important to ensure that the deed accurately reflects all financial contributions to avoid misunderstandings and tax issues.