Property ownership can be complicated. Co-owners of a property can hold the property in one of two ways:
Joint tenants; or
Tenants in common
As joint tenants, co-owners will own the whole of the property and will not have any identifiable share. Their interests in the property will pass automatically to the survivors and not in accordance with the terms of your Will. It is assumed that you own the property equally, regardless of contributions.
If a property is held as tenants in common, each co-owner has an identifiable share in the property, even if it is an equal split. The interests in the property will not pass by right of survivorship but instead, in accordance with the terms of your Will.
If you wish to enter into a Declaration of Trust, the property needs to be held as tenants in common.
If you hold a property as joint tenants and want to enter into a Declaration of Trust then the joint tenancy can be severed to enable you to do this.