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Hi,
I have now finally found a copy of my declaration of trust for a property bought back in 2010
The main bulk of the wording that matters states;
1. The Legal Owner declares she holds the Property and its proceeds of sale and repaying the Improvement Monies to the Account) and the net rents and profits until sale UPON TRUST for herself and the Contributor as tenants in common in equal shares
Question - The rental income is £1200 per month but I am only getting £355 and have been ever since the property was first rented. This doesn't seem right to me as it states in equal shares. Should I have been getting £600 per month?
2. The Legal Owner and the Contributor declare that all outgoings in respect of the Property and the interest accruing on the Account attributable to the Improvement Monies shall be paid by them in equal shares
The interest against the account attributed to the I'm improvement monies is £355 ie the money being paid to me only.
Any comments would be most welcome.
I have now finally found a copy of my declaration of trust for a property bought back in 2010
The main bulk of the wording that matters states;
1. The Legal Owner declares she holds the Property and its proceeds of sale and repaying the Improvement Monies to the Account) and the net rents and profits until sale UPON TRUST for herself and the Contributor as tenants in common in equal shares
Question - The rental income is £1200 per month but I am only getting £355 and have been ever since the property was first rented. This doesn't seem right to me as it states in equal shares. Should I have been getting £600 per month?
2. The Legal Owner and the Contributor declare that all outgoings in respect of the Property and the interest accruing on the Account attributable to the Improvement Monies shall be paid by them in equal shares
The interest against the account attributed to the I'm improvement monies is £355 ie the money being paid to me only.
Any comments would be most welcome.
