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Selling house after trust deed

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(@bc1979)
New Member
Joined: 10 years ago
Posts: 4
Topic starter  

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


   
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Mark McFadyen
(@mark-mcfadyen)
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Joined: 16 years ago
Posts: 4798
 

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.


   
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Kevin Mapstone
(@kevin-mapstone)
Member Admin
Joined: 16 years ago
Posts: 4253
 

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.

Scottish Debt Solutions Expert - Ask me for help setting up a Scottish Trust Deed or Debt Arrangement Scheme plan.


   
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(@bc1979)
New Member
Joined: 10 years ago
Posts: 4
Topic starter  

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


   
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Mark McFadyen
(@mark-mcfadyen)
Famed Member
Joined: 16 years ago
Posts: 4798
 

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.


   
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