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After sale shared equity procedures: guidance 2019

Updated guidance on procedures to be followed for all after sale transactions related to shared equity properties.

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Annex 10(B) - Letter from The Scottish Ministers / RSL to Executors or solicitors acting in the Executory where no surviving spouse

Dear

(Insert address of property) (the “Property”)

(Insert Name of deceased Owner)

We refer to the above and to the death of (Insert name of deceased owner). Please accept our condolences on the recent bereavement.

The death of a sole shared equity owner triggers a “payment event” in terms of the Shared Equity Agreement which means that Scottish Ministers’ equity stake in the Property becomes due and payable. Harper Macleod LLP, acting for the Scottish Ministers, shall therefore liaise with you / your solicitors in relation to repayment of the shared equity loan and the discharge of the standard security over the title to the Property which secures the shared equity loan.

If you require guidance on what to do following the death of [name of shared equity owner] we would refer you to

http://www.gov.scot/Publications/2005/12/05115128/51285

Please contact me if you wish to discuss further.

Yours sincerely

Shared Equity Officer

(If email, insert details of address and telephone number etc)

Contact

Email: SharedEquityEnquiries@gov.scot

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