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Scottish Trust Deed Forum
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Topic starter
20/12/2013 8:21 pm
I had a protected trust deed so my house would not be involved. I got discharged from my trust deed in Oct this year after my parents paying it off and creditors accepting full and final payment. I had to sell house due to Seperation got an offer on house and the sale was going through today but it's on hold as my trustees needs to sign my sale. What does this mean and can they take my share even though I've been discharged?
20/12/2013 10:01 pm
Hi yvonne66.
I'm guessing your trustee hasn't yet been discharged?
You can check online on the register of insolvencies if you're unsure.
There may be a delay, but I'm not sure this is going to be a big problem based upon your description.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
Topic starter
20/12/2013 10:26 pm
Just checked trustee has not been discharged even though I have. Does that mean they still have the right to my share of sale of house even though it was protected?
21/12/2013 9:51 am
Hi yvonne66.
A protected trust deed doesn't necessarily protect your home.
However, my understanding is that an inhibition should have been lifted when you got your Form 5 (discharge).
See the following thread for more information on that:
https://www.trust-deed.co.uk/forum/topic.asp?TOPIC_ID=4249
I think you or your solicitor will need to contact your trustee to confirm the position though I'm afraid.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds
22/12/2013 11:45 am
Hi Yvonne
TDA Is correct, it is a statutory requirement that the Trustee discharges the inhibition before issuing you with Form 5. If this has not been carried out, you should contact yopur trustee.
Mark
Mark is not posting regularly in the Trust-deed.co.uk forum.
22/12/2013 11:51 am
Hi Yvonne
Sorry I meant to say that it is a requirement in terms of Section 24 (2) (b) of the PTD Regulations 2008 in case the Trustee asks.
Mark
Mark is not posting regularly in the Trust-deed.co.uk forum.
