Notifications
Clear all
Topic starter
11/01/2011 9:34 am
Hi
I receieved a circular just before Christmas which was sent to my Creditors informing them of company costs regarding my Trust Deed. When I was looking at the Receipts and Payments Section I noticed two parts that I didnt really understand and I wondered if one of the experts here could clarify them for me. One of the points was Bordereau - what does this mean? and the other point was search fees - what does this mean?
I know these are silly questions to be asking but I am just curious.
11/01/2011 9:46 am
Hi Newbie65
Search Fees would probably relate to either a property or personal search i.e. confirmation of the fact that you own or don't own your property and a search against your name to find out if there are any inhibitions against you.
Bordereau is a insurance premium to cover the total unsecured assets/contributions to be collected over the period of the Trust Deed. The Trustee must take this cover out.
Hope this clarifies this for you.
Julie
Julie is not currently posting in the Trust-Deed.co.uk forum.
Topic starter
11/01/2011 10:05 am
Hi Julie
Yes this clarifies it for me. Thank you very much for your quick response 🙂
