Trusts & loan agreements Help

[Dev_1]

Hello,

Many thanks for reading.

I was wondering if anyone can provide any advice regarding trusts.

1) Essentially I have a property in my sole name,there is also a mortgage in my sole name on the property. My mother provided me with a cash deposit of £135,000 in order to purchase the property. I have since re-mortgaged from the original bank. Would I be able to protect my mothers cash deposit in the form of a declaration of trust?. I appreciate that my doing so will mean that the £135,000 which the declaration of trust makes reference to will form part of her estate for Inheritance tax. Is there another way to protect the deposit which my mother has provided or would this be the best way do so. Does the declaration of trust also need to be filed on the title register at the land registry or does it still hold the same weight if its signed by us two & legal advice is sought in relation to both of us?.

May I also get some advice on a remortgage which my mother carried out on a buy to let property which is in her sole name, she remortgaged for £195,000 which she also gave me which went towards the purchase of the property in my sole name. I don't know which trust would cover something like this as her mortgage is in her & she is paying for it every month however the money which she raised went towards my property. Are there any trusts of loan agreement I can have between my mother & myself?.

The finally point which I would like advice on is a property which was our main residence, mother put 50% equity into my name with my money involved. This was our main house for a number of years. We have now moved out & my mother lives with me & the property which is in our both names is now a rental property. She receives 100% of the rental income. In regards to the 50% share which she gave me can I do anything again to protect her interest.

Depending on whatever is decided I appreciate our wills will also need to be changed/updated.
I just want to ensure that the hard work my mother has put in during her lifetime is protected along with the financial support which she has provided me.

I am married with no children, hope the above all makes sense.

Kind regards

[bd6759]

1, If you owe your mother money, that debt is as asset in her estate whether there is a declaration of trust or not.

2. This seems to be the same as 1.

There is a verbal loan agreement. If you want it formalised, give her an IOU.