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Taking a home out of a family trust
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chipxtreme
Posts: 6 Forumite
So back when my mam was alive she put her home in a family trust with a firm of solicitors in Scotland. They have since been taken over by another firm of solicitors.
My brother lives in the house and has done for a few years however he decided to ring them to see about taking it out of the trust and putting in our names. They have asked for £2200 or roundabout to do this which seems excessive.
They say they have to re-register the trustees in their name, register it with government and then disolve it to put it back in our names.
Anyone been in similar situation can offer some advice?
My brother lives in the house and has done for a few years however he decided to ring them to see about taking it out of the trust and putting in our names. They have asked for £2200 or roundabout to do this which seems excessive.
They say they have to re-register the trustees in their name, register it with government and then disolve it to put it back in our names.
Anyone been in similar situation can offer some advice?
0
Comments
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Who are the current trustees - humans or any organisations please?
Have you copies of/read the terms of the existing trust? Probably governs a lot about what can happen.0 -
I'll have to get the paperwork from my brother but as far as i'm aware it was two solicitors at the old firm.0
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