Notifications
Clear all
Scottish Trust Deed Forum
3
Posts
3
Users
0
Reactions
2,153
Views
Topic starter
15/07/2014 6:48 pm
Hi
I have recently inherited a property from my dad as he passed away in March. I am also coming to an end with my trust deed. My trustee knows about the property and I have the final bill to pay off my creditors. The problem is I don't think the house will be sold in time for my trust deed ending. So what will happen will they extend my trust deed until the house is sold. Or is there any way of releasing some equity in the house to pay my trust deed off. Any help is much appreciated
15/07/2014 9:34 pm
Welcome to the forum Stu0706.
You'll need to ask your trustee, but I suspect they'll be happy to hold things open pending the sale of the home.
Raising mortgage finance is likely to be very tough while you remain in a trust deed.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
16/07/2014 6:13 am
Hi Stu0706
If the trustee has any interest in the house then they will require to extend the period of the trust deed until this is dealt with.
With other matters, the trustee can issue Form 5 which is your discharge while they remain in office, however as it's property to be dealt with, unfortunately this would not be the case.
Mark
Mark is not posting regularly in the Trust-deed.co.uk forum.
