Hi hettyb

In a word, yes. The property should have been discussed at the meeting, value and redemption obtained and something in writing from the IP advising EXACTLY what the position is re the equity. Either there is is none or there is some.

My advice is please do not sign until this has been absolutely clarified.

Mark

Welcome to the trust deed forum hettyb.

When you sign a Scottish trust deed your assets "vest" (pass to) your trustee.

Have you had a valuation done on your home already by the trustee?

Have they set out in writing how your home will be dealt with if there is no equity at the moment?

Have you been asked to pay £500 (or another sum) to "protect the equity" or something similar?

Do you know whether they will look to value your home again when the trust deed is reaching its end?

Sorry to ask so many questions, but when it comes to a home you cannot be too careful.

Let us know about these things and we'll try to help you some more.

Being a homeowner doesn't mean that a trust deed will not be the right option for you, but there are good and bad ways for things to be set up in the first instance. The fact that you're feeling this uncertainty right now doesn't feel like a good sign.