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Scottish Trust Deed Forum
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Topic starter
09/11/2012 12:42 pm
Hi
I'm looking for some advice on what would happen if I sold my house whilst still in the trust deed? I have been told by KPMG that they would have to authorise this? I feel I cant seem to get any answers to my questions from them, the amount of credit outstanding at the start of my trust deed was roughly £30k, I have done a rough estimate of the equity from my house sale which would be roughly £20k but I dont know how this would work? Any comments would be grateful.
09/11/2012 1:53 pm
Hi pm1969.
The consent of your trustee is likely to be required.
The proceeds of such a sale (the equity) is likely to have to be paid into your protected trust deed.
As with all of these situations however you should confirm the position with your trustee directly before taking any action.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
11/11/2012 1:33 pm
Your trustee does need to ok any sale, but as long as it is sold for full value then I don't see why they would have any problem with it.
Scottish Debt Solutions Expert - Ask me for help setting up a Scottish Trust Deed or Debt Arrangement Scheme plan.
