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Topic starter
29/11/2012 10:14 pm
Could anyone give me any info on this scenario
Husband and wife with 2 kids are married for around 3 years then separate. She leaves and he stays in the family home. After a period of around 3 years pass and he goes to change mortgage provider and decides to release equity on the property to pay for building repairs. To do this he had to change the title deeds and he was informed his estranged wife had entered a trust deed and they were now aware of her interests in the property which she had failed to disclose. The mortgage company has now gone all quiet on him claiming they are waiting for the trust deed firm to reply to them. Can he contact them directly? What can he expect in a case like this? Any advise will be very appreciated
29/11/2012 10:40 pm
Hello Rc133 and welcome.
When someone signs a trust deed their assets "vest" in their trustee. The trustee is obligated to use any eligible assets to help repay the creditors. One such asset would be the individuals share of any equity in a jointly owned home.
I'd suggest that you contact the relevant trustee so that you can begin to clarify your position going forwards.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
30/11/2012 9:04 am
Hi RC133
The trustee will have recorded an inhibition on your wife to stop the sale, transfer etc of any heritable property ( house, land etc) and your wife's trust deed would have shown when you tried to remortgage or transfer title.
Your only option is to speak with the trustee as he will be looking at any value in her half share of the equity.
Mark
Mark is not posting regularly in the Trust-deed.co.uk forum.
30/11/2012 11:00 am
Has she been paying anything towards the mortgage in the last 3 years?
Paul
Trust deed completed Jan 2012,Trustee discharge Nov 2012.
A new dawn.
