Floating Deed of Trust Instruction

Floating Deed of Trust Online Instruction

Use our online form to provide us with all the information our solicitor needs to draft you a floating deed.

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Transaction Reference:

(If you have a SAM Conveyancing quote already, use your client reference to sync your details to this form, it'll save you filling your details in again)

Transaction Reference:

(If you are already a SAM Conveyancing client you must use your client reference to sync your details to this form, it'll save you filling your details in again)

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Security Code

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Your Details

Title

First name

Middle name/s

Last name

Mobile number

Email

Current Home Address

This is the address where you are currently living. You can fill in the details of the deed property in the next section of this form.

Home Postcode

Lookup

Flat No:

First line

Second line

Town/City

County

What is the relationship between you and the other party?

Are you a legal owner of the property?

A legal owner is named on the title at the Land Registry.

Yes

Are you a beneficial owner of the property?

A beneficial owner does not need to be a legal owner.

Yes

What are the total costs of purchase?

Costs of purchase include but are not limited to Stamp Duty, Land Registry, Solicitor fees, Removals, Surveys and Searches. These must be costs directly used to purchase the property.

What is your share of the Costs of Purchase? (£)

When added together with the other party to the deed then this adds up to the total Costs of Purchase.

What is your initial deposit? (£)

Your joint deposit amounts, or your existing equity in the property, cannot exceed the current market value of the property less any existing mortgage and or registered loans. For example:

Current value of property	£250,000
Mortgage value	£225,000

Joint deposit amount cannot exceed:	£25,000

If you wish to get repaid more then this is a separate loan agreement and our solicitor will levy an additional fee for drafting this.

What is your share of the outgoings? (%)

Outgoings include but are not limited to rates, utilities and insurance. They are typically shared in the same percentage split as your beneficial interest.

Add a party to the deed ( )

Property details your deed relates to

Same as Main Client Address

Postcode of property

Lookup

Flat No:

First line

Second line

Town

County

Is the property freehold or leasehold?

Is the property a residential or a buy to let?

Do you currently own the property?

How do you currently own the property?

If you are unsure we will check for you. Joint Tenants cannot hold separate beneficial shares in a property. If the property is currently held as Joint Tenants then we can help sever the joint tenancy so the property is held as Tenants in Common for an additional fee.

Would you like us to check for you?

What is the property's current price?

If you are buying the property this is the price you are paying. If you already own the property this is the estimated current market value as at today's date.

What is the name of your mortgage lender?

If you are buying then this is the name of your mortgage lender helping you fund the purchase. If you already own the property it is the name of your mortgage lender who has a registered charge over your property.

What is the mortgage value?

If you are buying then this is the total mortgage debt as at completion (this may include mortgage valuation and admin fees added onto the mortgage debt). If you already own the property this is the estimated current total mortgage debt as at today's date.

Do you have any special requests?

Attach Documents

You can attach a scanned .PDF or a .JPEG.

Proof of Photo ID

Attach a copy of your current valid passport or driving licence for all parties.

Proof of Address

Attach 2 scanned copies of your home address (you can't use the same company twice for different months. You can use a utility/mobile bill, formal notice like HMRC letter or council tax or bank statement no older than 3 months).

Terms & Conditions

SAM Conveyancing

19 Silwood Road

Ascot

Berkshire

SL5 0PY

T: 0207 112 5388

E: help@samconveyancing.co.uk

W: www.samconveyancing.co.uk

Who is my Solicitor?

The service is undertaken by one of our panel solicitors. By accepting these terms you consent to us providing them with your personal details to provide the service to you. We will tell you who we have paired you with, after you instruct. The solicitors will provide you with their own Terms and Conditions following your completion of this form.

Scope of work

Declaration of trust using the floating formula for distribution of property income (rent/net sale proceeds) based on contribution toward the equity/deposit, costs of purchase, mortgage repayments and repairs and renovations. The more a party contributes, the greater their interest in the property
Lists the names of all legal and beneficial owners
Explains how to share rental income
Mechanism for transferring beneficial interest between parties
States the individual contributions towards outgoings
Maintenance obligations
Explains how to sell the property in the future

This is a standard document drafted by a solicitor that includes clauses as stated above. If you wish to add any additional clauses or tailor the deed then our solicitor can help and will agree an additional fee with you for doing this. We will charge extra for Material changes to the original intentions. We will draft the deed of trust based on your intentions and offer one free revision. Should you look to change your intentions, supply incorrect details or you require a bespoke service then our solicitor will charge for this work on an hourly basis of £200 EXC VAT.

Points to Note:

The deed cannot be backdated.
This scope does not include registration of any notices or restrictions at HM Land Registry unless you have paid for the service to register a restriction. If you wish to instruct us to do that, please get in touch.
The title to the legal estate will not change. Depending on the revisions made, it may only be the entitlement to the beneficial estate that will change. However, as one of the Parties may acquire an interest in land, stamp duty land tax (SDLT) or land transaction tax (LTT) will be payable by reference to any chargeable consideration given for it. You are required by law to declare and pay any stamp duty land tax applicable to the transaction. You should therefore speak to a specialist stamp duty land tax adviser before instructing the Deed. Parachute Law are not specialists in tax law and cannot give you tax advice.

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Updated: 06 June 2023