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In this tutorial, Professor Brett Davies, a barrister and solicitor at Legal Consolidated, discusses the benefits of using a declaration of trust when purchasing an asset privately. This document enables someone to buy an asset, such as a classic car, without revealing the buyer's identity to the seller. For instance, if you're interested in a 1986 Corvette Stingray but prefer not to make the purchase directly, you can appoint a trusted person, like your friend Robert, to act as the trustee. This arrangement ensures that while Robert handles the purchase, you remain the beneficial owner, maintaining privacy and control over the transaction.