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Scottish Trust Deed Forum
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Topic starter
18/04/2010 10:13 pm
Hi, my brother is considering a TD, house is in joint names with myself. I have no debts that I cannot manage, if, God forbid, anything should happen to my brother during the 3 years of TD, what will happen to any outstanding debts and how will I stand in relation to the house?
18/04/2010 11:29 pm
Hi onthebrink
best advice would be for your brother to discuss and have confirmed with the Trustee/IP the exact position with equity. It is difficult to comment as there are a number of areas to look at.
Property deeds in a lot if instances have something called survivorship clauses which can alter a Trustees position in the event of death etc. So rather than get too techie at 11.30pm, best advise is speak with proposed IP and get it all confirmed IN WRITING before doing anything.
Mark
Mark is not posting regularly in the Trust-deed.co.uk forum.
Topic starter
19/04/2010 9:50 am
Thanks Mark, it's all quite worrying, my minds working overtime thinking of all the things
that could go wrong. By the way, re my previous post enquiring about baines and Ernst, my brother phoned them and wrote asking for a refund of the ?ú280, so fingers crossed there.
19/04/2010 11:20 am
Hello onthebrink,
I do hope that the refund is forthcoming. There is some legislation regarding distance selling that may help if there is any resistance to the refund being made.
Please let us know the outcome.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
