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Scottish Trust Deed Forum
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Topic starter
16/01/2012 11:55 am
I transferred my home into my wife's name 14 to 15 years ago the searches show that it is her name only on the title deeds.
Is the house safe if I decide to enter trust deed or sequestration?
16/01/2012 12:06 pm
Hi Hamstrung and welcome to the trust deed forum.
14 or 15 years is a very long time, which makes it much less likely that any issue would be caused.
Could you let us know what the reason for the transfer was at the time?
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
16/01/2012 12:09 pm
Hi Hamstrung
Yes, there is a five year rule in insolvency to deal with gratuitous alienations ( transfer of assets)
It's a wee bit more complicated, but at the time period stated, it will be fine.
Mark
Mark is not posting regularly in the Trust-deed.co.uk forum.
Topic starter
16/01/2012 1:03 pm
The original reason for the transfer was to divide our assets more evenly, the business was ( and is) in my name.
But at that time The business was worth a fair bit of money (no longer unfortunately!) and the house was too, so if both of us died there would have been a possible inheritance tax issue .
16/01/2012 1:11 pm
Hi Hamstrung
Gratuitous alienations are a wee speciality of mine. If you were solvent at any point after a transfer, even for one day, then the transfer cant be challenged. However as said, the 15 year gap will be more the deciding factor.
Mark
Mark is not posting regularly in the Trust-deed.co.uk forum.
