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Scottish Trust Deed Forum
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Topic starter
31/08/2015 7:36 am
Hi folks,
I was discharged from my trust deed in July this year and was wondering if I decided to sell my house would my IP still have an interest in it? My wife paid the IP for my share of the equity during the course of my trust deed, if it helps.
Thanks
31/08/2015 8:58 am
Hi bc1979
Did you or your wife receive any confirmation or paperwork confirming the trustee had discharged their interest in the property after the money was paid?
Mark
Mark is not posting regularly in the Trust-deed.co.uk forum.
31/08/2015 12:09 pm
If you fulfilled all of your obligations then you should be fine, bc1979. As Mark says, it may be worth checking that you received written confirmation of this though.
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Topic starter
31/08/2015 2:58 pm
Thanks for the replies. I received a letter a few months before I finished my trust deed saying the equity was paid but not to try and sell the house straight away as it could be complicated or something to that effect. Might have been because I still had a few payments towards the trust deed to make. I will phone the IP tomorrow for clarification. I was just unsure as I know i am discharged but my IP is still doing work in the background with my creditors.
Thanks
31/08/2015 5:32 pm
Hi bc1979
The Trustee will have a notice of inhibition which would prevent any sale, however there is a requirement to have this discharged before issuing you with Form 5 ( your discharge ) so there should be no problem now.
Mark
Mark is not posting regularly in the Trust-deed.co.uk forum.
