Many thanks again for all the info.
Lets say, a simple deed of variation is drawn up showing my share and repayment, as well as registering a standard security, removing my name from the title deeds as having 0% share is all set in place.
Then my parents sell the property. I have no title whatsoever.
What would happen if I then set up a trust deed after 6 months. Who can they have a claim against, and how could they recover any funds?
My sister lives abroad and has done the last 16 years. Where would I then stand?
Cheers
Hi portway
The Action of Reduction has 2 parts. Firstly to recover the property to the point it existed before the Deed of Variation/security.
If the property was sold, the Trustee can proceed down the redress route and seek to recover from the other parties for your share of the net proceeds.
Mark
Mark is not posting regularly in the Trust-deed.co.uk forum.