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Topic starter
06/05/2013 7:18 pm
Hi,
I am 18 months into my three year sequestration. I own my home and at the start of entering into this i agreed a fee with my trustee of around £3,000 as to the agreed equity of my property at the time of signing. I have a few questions i was wondering someone could assist me with:-
1) Can i sell my property at any time during my sequestration or do i have to wait until the 3 years has elapsed?
2) If i am allowed to sell will i only have to give back the agreed equity at the time or will they look for more?
Thanks in advance for any advice
Any advice would be appreciated.
06/05/2013 8:33 pm
Hi stevie0398.
Was there an agreed plan at the start about how this £3000 would be raised?
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
06/05/2013 8:48 pm
Hi Stevie
There is nothing stopping you selling the property at any time, however I suspect if you do this before the end of the trust deed, the trustee may seek the full amount if what's left after the selling costs are deducted.
Mark
Mark is not posting regularly in the Trust-deed.co.uk forum.
06/05/2013 10:51 pm
I agree. The current deal is that the Trustee takes £3k to prevent any kind of sale of the property. Should you chose to sell the property the Trustee would likely and would be entitled to take the entire net free proceeds. Therefore think carefully on when you want to sell as the offer on the table currently may be more beneficial to you, holding off selling until after. All depends on the equity levels.
Rob is not currently posting in the Trust-Deed.co.uk forum.
