Document background
The Declaration of Trust Tenants in Common is essential when multiple parties wish to establish clear co-ownership arrangements for real property in Belgium. This document type is particularly relevant when co-owners want to hold property in defined shares while maintaining individual rights to transfer or bequeath their portion. While trusts as known in common law jurisdictions are not typically recognized in Belgian law, this declaration adapts trust principles to comply with Belgian civil law requirements. The document includes detailed provisions for property management, maintenance responsibilities, cost-sharing arrangements, and decision-making processes. It's commonly used in both residential and commercial property contexts, particularly when family members, business partners, or investors acquire property together. The declaration must comply with Belgian property law, particularly Articles 577-2 of the Belgian Civil Code regarding co-ownership.
