# UHT return for multiple trustees

**URL:** <https://www.protaxcommunity.com/t/uht-return-for-multiple-trustees/8116>\
**Category:** Tax Topics\
**Created:** [March 22, 2024, 3:34pm UTC](https://www.protaxcommunity.com/t/uht-return-for-multiple-trustees/8116 "2024-03-22T15:34:42Z")\
**Posts on this page:** 3\
**Page:** 1

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**Author:** ![Rein](https://sea2.discourse-cdn.com/flex016/user_avatar/www.protaxcommunity.com/rein/32/1083_2.png) [@Rein](https://www.protaxcommunity.com/u/Rein)\
**Post date:** [March 22, 2024, 3:34pm UTC](https://www.protaxcommunity.com/t/uht-return-for-multiple-trustees/8116/1 "2024-03-22T15:34:42Z")

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I have clients who are on their daughter’s property as a 1% owner [Joint tenant]

Would love to know how others deal with two parents as Joint Tenants owing 1% and the child owning 99% as Tenants in Common.  
Should I file one return for both parents or two returns for each parent?

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**Author:** ![justinredmond](https://avatars.discourse-cdn.com/v4/letter/j/97f17d/32.png) [@justinredmond](https://www.protaxcommunity.com/u/justinredmond)\
**Post date:** [March 23, 2024, 7:15am UTC](https://www.protaxcommunity.com/t/uht-return-for-multiple-trustees/8116/2 "2024-03-23T07:15:42Z")

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My understanding is there are 2 UHT returns here for 2022 and likely none for 2023.

If mom and dads title is joint tenancy for the 1%, but the remaining 99% for the kid is tenants in common with mom and dad (as joint tenants), you may not even have a UHT return. Tenants in common generally means mom and dad actually own 1% of the property, but its likely mom and dad each hold their undivided interest of 1% in trust for kid.

My understanding is that if there is no written trust agreement, you do not have a trust when land is involved unless a judge says you do. But they would actually have to be entitled to 1%of the sale proceeds and report 1% of any rental income, which is likely not the case.

Its likely purely for financing and mom and dad are not expecting 1% of the property interest, so likely 2 UHTs for 2022 only.

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**Author:** ![Rein](https://sea2.discourse-cdn.com/flex016/user_avatar/www.protaxcommunity.com/rein/32/1083_2.png) [@Rein](https://www.protaxcommunity.com/u/Rein)\
**Post date:** [March 24, 2024, 7:01pm UTC](https://www.protaxcommunity.com/t/uht-return-for-multiple-trustees/8116/3 "2024-03-24T19:01:22Z")

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I agree on the two UHT returns. Since this is only for financing purposes [they are coming of title in June of this year because the daughter now qualifies] if I would say it is NOT a trust, then 1% has to be reported as a deemed disposition by the parents which is not eligible for the principal residence deduction. But that doesn’t seem right to me. It is clearly only for financing so I think that does create a bare trust.

I think CRA would disagree that if there is no written trust agreement that there is no trust. They have given guidance what to do in the case of a bare trust if there is no written trust agreement.