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Scottish Trust Deed Forum
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Topic starter
11/12/2010 3:46 pm
My partner is in a trust deed and trustees have agreed to sell our house as we are desperate to move out of the area. Our income is quickly dwindling and there is little or no employment here. As the trustees wish to recoup as much equity as possible, we are concerned that they will drag out the sale whilst we are happy to just get enough to start again with renting in a new area. Would he be better going bankrupt and allowing the house to then be sold or would it take just as long ?
11/12/2010 9:59 pm
Hi sandyboy.
As you are in a trust deed you cannot go bankrupt without the trust deed first coming to an end for some reason.
If you find that you cannot keep of with the contributions required you may wish to discuss how best to proceed with your Trustee.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
12/12/2010 10:10 am
If you are not in a Trust Deed, there is nothing to stop you selling the property.
The Trustee will need to sign the formal paperwork on behalf of your partner, but that shouldn't prevent you organising the sale.
Mark
Mark is not posting regularly in the Trust-deed.co.uk forum.
