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Posted Mon, 13 May 2024 13:31:33 GMT by NigelB
My wife and I, legally married, jointly own a property from which we have been earning rental income. However, we wish to transfer the sole beneficial interest to my name. I'm aware that we'll need to complete a Declaration of Beneficial Interests in Joint Property and Income. My inquiry regarding the evidence required to establish unequal beneficial interests in the property. I understand that a declaration or deed is necessary for this purpose. Could you please clarify the acceptable format for this declaration or provide and example ? Additionally, is witness testimony required, and if so, who should witness it? can it be done by the same person ? Does it need to be done via legal professional or can we do it ourselves ? Thanks
Posted Wed, 15 May 2024 13:50:14 GMT by HMRC Admin 2 Response
Hi,

A declaration of trust is a legally binding document and should be prepared by a legal professional who will be able to advise you of the correct format.

Thank you.   

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