Hi sinking5

No, your trustee will require to consent and sign the disposition.

Mark

So I cant market my house just now, Will selling my home be a problem when I'm in the trust deed and have additional costs ?

Hi sinking5

You can market the house if you wish, but your trustee will need to consent to any sale, should you get a formal offer.

It may be a worthless and expensive exercise to market the property for the Trustee to not agree to the sale should you get an offer. This would leave you liable for the estate agents costs. If he does consent, the sale would need to raise enough to cover the selling/legal costs and any surplus would go to the Trustee.

Mark

Before selling you have to inform the municipal corporation that you want to sell your house before 1-2 months. Then it will make the new docs for it and the docs will submitted to the new house holder after that permission only you can sell your house. If there some house tax not submitted then you have to submit that with fine include.

and there I thought I was up early as well.

TDA, I've always wondered why forums get stuff like the post above ( from ZK just in case it's removed ) which appear to be random sentences slightly related, but more often than not it's totally unrelated.

Mark

Ok, So I'm even more confused, basically I can market the house but not sell it unless the trustee consents to the sale (Can I ask why they wouldn't given that it was market value or above ?) What would happen then if I just stopped the mortgage payments, can the bank force the sale of the house, I honestly just want rid of the house, between my arrears and running costs I'm really struggling to see the point in keeping it. Can you please also shed any light on "Zonekarters" statement as it has totally gone over my head.

Hi sinking5

I cannot speak for your Trustee. I can only suggest that you speak with your Trustee and advise him of your intentions and take it from there. If it was at market value, I see no reason why he would not accept, but I have no details of your circumstances, so can't reply with any degree of accuracy.

Ignore the Zonecarter comment as its just some internet nonsense and nothing to do with your post.

Mark

If you stopped paying the mortgage, the bank would commence repossession proceedings and ultimately take possession of the property

Hi sinking5

I meant to add, if the property was repossessed and there was a shortfall, it would be a claim in the Trust Deed.

I still think best bet is to speak with your Trustee.

Mark