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Scottish Trust Deed Forum
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Topic starter
09/08/2021 2:06 pm
Hi, so I have a couple of questions about my husband's trust deed which became protected in Dec 2019. So since this he has only had 1 review, 6 months in....that means we have now gone a year with no contact apart from an annual summary....Is this normal?
Also, our car was part of the TD and I am making equity payments on behalf of my husband for our house and car for 5 years, his payments to the TD was only for 4 years...my question is can we sell the car after the 4 years and pay off the equity in a lump sum rather then me making payments for another year?
09/08/2021 2:56 pm
Afternoon
Usually the Trustee will review the case either 6 months or 12 months.
The assets are conveyed to the trustee meaning you would be unable to dispose of the assets without the trustee's agreement.
I would recommend speaking with your husband Trustee to see if this possible.
Paul
Recommended Partner & Trust Deed Expert - Ask me for help setting up a Scottish Trust Deed
09/08/2021 3:13 pm
Welcome to the trust deed forum TD23.
Have there been any significant changes in either your income or expenditure since the last review? If there have I'd suggest you contact the trustee and request that a review takes place. As Paul already said, reviews should normally take place at least annually but obviously there has been an awful lot of disruption in recent times.
Your trustee may well be happy to speed everything up via a sale of the vehicle in the future. This is something to ask the trustee directly, but it's hard to see why they'd say no if there's no loss to your husband's creditors as a result.
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