A deed of trust (also called a declaration of trust) is a legal document that sets out how property ownership and any related financial contributions — such as deposit amounts or ongoing payments — are split between joint owners.
It’s commonly used when people buying together contribute different amounts towards a deposit or mortgage payments, and want a clear legal record of who owns what share of the property, and what should happen to that share if the property is later sold or one owner wants to leave. A deed of trust is drawn up by a solicitor and is separate from the mortgage itself, but can be an important document to have in place alongside a joint mortgage application.