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Unsigned trust deed issue

  • February
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04 Oct 12 #359323 by February
Topic started by February
I am in the throes of divorce proceedings (I am the petitioner), and the subject of our joint property has arisen. We bought the property in 2005, and I put £25k of my inheritance down as a deposit. We had a mortgage of £129k to cover the remainder of the £154k house price. We then took out a further advance of £19k about a year later, which now takes our mortgage repayment amount up to £145k. Currently, the property is worth just under what we paid for it 7 years ago. I have just found out that the trust deed that was drawn up by the conveyancers at the time was not signed by either party. We weren''t married at the time of buying the property, either.
I would like to know what my rights are to that £25k? My husband thinks that the further advance we took out should be taken out of my deposit, but I have been told by a financial advisor that the advance is in fact just a further loan from the mortgage company, and should have nothing to do with my deposit.
He would like to ''sell'' his share of the equity now so that he gets some money upfront, with a view to allow whoever buys his share to one day get it back from the sale of the property. I don''t want to sell now, as it would cost us both a lot of money to do so, and am hoping that the value goes up enough for us to get something back from it. I am hoping that I can prove the intention of the deed of trust, so that I can claim that investment back before the rest of the equity is shared 50/50.
Please can someone advise me on this at all? It''s a very complicated matter, and I''m pulling my hair out!
Thank you.

  • QPRanger
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04 Oct 12 #359335 by QPRanger
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I have a similar situation: my father lent me £35k as part of the deposit protected with a Deed of Trust, this was signed and witnessed by me, my ex and my Dad.

At court my stbx claimed she had been forced to sign it: the solicitors who drew up the Deed of Trust put the wrong date on the top and also failed to register my Dad''s interest with the Land Registry.

The judge ruled that the Deed of Trust was binding (although the man STILL refused to order a house sale so my Dad can get his money back but thats a different story).

My Dad''s solicitor has recommended he considers taking legal action against the solicitor who drew up the original Deed of Trust due to their errors: perhaps you could consider this if it is the conveyancers fault that your deed was not signed?

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04 Oct 12 #359336 by February
Reply from February
Hi,
Thanks for your help. Unfortunately, it was our fault that the deed wasn''t signed. I have the drafts, and a copy of my receipt from the bank when the money was taken out, but I fear that this would take a lot of work, and money, to fight in court... and the outcome is possibly not going to go my way. I don''t know if I have a leg to stand on as it was my own stupidity that got me in this pickle!

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