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murphy
New Member

3 Posts

Posted - 10 May 2018 :  17:41:12  Show Profile  Reply with Quote
Hi,I was discharged from my TD 3 months ago. I am trying to start saving again. A mate has offered me a room at her house free as she works away. Am I allowed to sell my house and take up her offer. At the time of the TD I was in minus equity but now I would have a small profit. This is what worries me.

TDA (Debt Adviser)
Trust Deed Expert



12364 Posts

Posted - 11 May 2018 :  08:37:10  Show Profile  Reply with Quote
Welcome to the forum murphy.

If you've been formally discharged, as recorded on the Register of Insolvencies, we'd usually expect that a sale of your home would be fine.

However we've heard from a couple of people who've done this this and then the trustee has stated that the equity should be handed over. It's been sorted out in the client's favour every time we've seen this, but only after a lot of worry and effort.

For that reason I'd suggest getting written confirmation from your trustee that this is OK before you go ahead. I doubt that they'll have any issue with it.

Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds    
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murphy
New Member

3 Posts

Posted - 11 May 2018 :  13:08:17  Show Profile  Reply with Quote
Hi,

Thank you for your reply. I will contact them to make sure.

murphy
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Sarah Houston
Trust Deed Expert



38 Posts

Posted - 14 May 2018 :  12:35:57  Show Profile  Reply with Quote
Hi Murphy

In my experience when an offer has been accepted , it flags up previous trust deed and the purchaser's solicitor may request a letter or email from the trustee for confirmation of discharge to proceed with the sale.

This is just them having a belt and braces approach - very standard !

Rest assured, if you have been discharged then the trustee will have no interest in the property.


Sarah is no longer posting in the Trust-Deed.co.uk forum.

Edited by - Sarah Houston on 14 May 2018 12:36:39
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murphy
New Member

3 Posts

Posted - 19 May 2018 :  17:01:46  Show Profile  Reply with Quote
Thanks Sarah

murphy
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