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Declaration Of Trust Joint Tenancy
"I need a Declaration of Trust Joint Tenancy for a residential property in Hong Kong's Mid-Levels area, to be held jointly by three family members, with specific provisions for property management and expense sharing."
1. Parties: Identification of the Trustees and Beneficiaries, including full names, addresses, and HKID/passport numbers
2. Background: Context of the trust creation, including details of property acquisition and intention to hold as joint tenants
3. Definitions: Key terms used throughout the document, including 'Property', 'Trust Period', 'Joint Tenants', 'Beneficial Interest'
4. Declaration of Trust: Formal declaration establishing the trust and confirming the joint tenancy arrangement
5. Property Details: Comprehensive description of the trust property, including registration details and title particulars
6. Nature of Joint Tenancy: Explicit statement of joint tenancy characteristics, including right of survivorship
7. Rights and Obligations: Details of the joint tenants' rights, responsibilities, and obligations regarding the property
8. Trust Administration: Procedures for decision-making, property management, and expense sharing
9. Death of Joint Tenant: Provisions dealing with the passing of interest upon death of a joint tenant
10. Governing Law: Confirmation that the trust is governed by Hong Kong law
11. Execution: Formal execution clause and signature blocks
1. Power of Sale: Optional provisions for selling the property, used when parties want to pre-agree sale conditions
2. Severance of Joint Tenancy: Include when parties want to specify conditions under which the joint tenancy can be converted to tenancy in common
3. Bank Account Provisions: Include when a joint bank account will be maintained for property expenses
4. Property Management: Detailed management provisions, needed for complex properties or commercial properties
5. Dispute Resolution: Include when parties want specific dispute resolution procedures beyond court jurisdiction
6. Third Party Rights: Include when there are specific third parties who may have rights in relation to the property
1. Property Schedule: Detailed property description, including lot number, address, and registered particulars
2. Initial Contribution Schedule: Details of initial financial contributions by each joint tenant
3. Execution Requirements: Specific requirements for executing and registering the declaration in Hong Kong
4. Property Management Rules: Detailed rules for property maintenance and management
5. Certificate of Value: Valuation details for stamp duty purposes
Authors
Real Estate
Legal Services
Banking & Finance
Property Management
Wealth Management
Estate Planning
Professional Services
Financial Advisory
Legal
Real Estate
Property Management
Wealth Management
Trust Administration
Compliance
Private Banking
Estate Planning
Asset Management
Property Lawyer
Real Estate Agent
Trust Manager
Estate Planning Advisor
Wealth Manager
Property Manager
Legal Counsel
Conveyancing Manager
Trust Administrator
Financial Advisor
Compliance Officer
Property Investment Manager
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