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Scottish Trust Deed Forum
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Topic starter
28/09/2017 7:09 pm
Hi
I started my trust deed in 2010 in 2013 when it was due to complete I had no means of paying off the equity portion ,my trustees at that time offered me a solution of paying back the fixed amount in monthly instalments over a period of 40 months .
During this period my trust deed was passed on to another company ...my payments continued and in 2016 my trustee was discharged .
However during the latter portion of the equity repayment period my mother passed away leaving a property for sale the proceeds to be split between my siblings and I this property has now been sold just over a year from my trustees discharge date ...my question is do they have any claim on this money ?
29/09/2017 8:48 am
If both you and your trustee have been discharged then there should be no problem. Technically if your trustee found out about this then they could potentially challenge it in court and seek to be reappointed to gather those funds in, but I think it is unlikely.
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Topic starter
29/09/2017 6:25 pm
Thank you Kevin
Both myself and my trustee have been discharged, the lawyer dealing with my late mothers estate is asking for a letter from my trustee stating that they have no interest in the inheritance which is why I'm asking .
29/09/2017 9:18 pm
This is a tough one.
There are three big questions.
1. When were YOU discharged?
2. When did your mother pass away?
3. How much is your share of the property?
Topic starter
29/09/2017 9:34 pm
Hi candlewick
I was discharged at the start of August 2016 my trustee discharged himself at the end of August 2016, my mother passed away in October 2015 ( I did inform the td people at this time ) my share is £12000
29/09/2017 10:27 pm
As Kevin says the trustee could technically potentially challenge this. However, he would have to explain why he had discharged himself knowing that there we a potential inheritance.
Hopefully that will put him off going for the challenge.
