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Alex J.
Alex J., Solicitor
Category: Law
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Experience:  Solicitors 2 years plus PQE
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Can a mortgaged property be put into a trust. (Discretionary

Resolved Question:

can a mortgaged property be put into a trust. (Discretionary or Accumulation Trust) . typical example family home worth 150,000
mortgage outstanding 98,000.
Submitted: 2 years ago.
Category: Law
Expert:  Alex J. replied 2 years ago.
Hi,
Thank you for your question and welcome.
My name is ***** ***** I will assist you.
This is possible but you would still need the consent of the mortgage company. Also you would not be able to release the property from its charge (i.e the mortgage security) or the obligation to pay the mortgage from the person that owes the money - they would likely remain liable.
Can I assist you any further?
Kind regards
AJ
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