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What is a Beneficial Interest?
It is the right to a share of the benefits of a property, for example living in it, receiving rental income, or a share of the net sale proceeds, without being the legal owner (whose name is on the Land Registry title documents).
A person with legal ownership of a property holds the title and the power to sell the property, whilst beneficial ownership dictates who receives the net sale proceeds.
How to Claim a Beneficial Interest in Property
- Express Declaration
This is a formal written document, formally known as a Declaration of Trust, signed by the legal owner(s), stating the agreed share of the person(s) with a beneficial interest. The Express Declaration should be drafted by a solicitor and registered with the Land Registry. - Common Intention Constructive Trust (for informal arrangements)
This is a court-recognised share of a property based on a shared understanding and actions taken to your disadvantage. To claim a Constructive Trust, you would need to prove that there was an agreement or understanding between you and the legal owner that implied you would have a share in the property. You would also need to show that you acted on the basis that you had a share in the property to your disadvantage, for example by paying towards the mortgage or renovations. The evidence needed to prove a Constructive Trust can be in the form of witness statements, bank statements, receipts, letters, text messages, or emails. - Resulting Trust Where Direct Financial Contributions Are Made
This arises when you have contributed to the purchase price of the property, for example by paying towards the deposit or towards capital mortgage repayments, but are not listed as a legal owner on the title documents. To claim a Resulting Trust, you would need to show your direct financial contribution to the purchase price, which leads to the presumption that you have a share in the property. - Proprietary Estoppel
This is a claim that arises if someone promised you a share in the property, you relied on that promise to your disadvantage, and it would be unfair to go back on it. To claim Proprietary Estoppel, you must prove that the promise was made to you, that you relied on it to your detriment, for example by paying towards capital mortgage repayments or significant renovations, and that it would be unfair or unjust to go back on that promise.
If you believe you have a beneficial interest in a property, you should gather as much evidence as possible of the agreements, contributions, and conversations between you and the legal owner to support your claim. Our team of experts can offer the advice and support you need. Please call 02392 820 747.