Hi All
I'm new here, sadly my Aunt had to go into a home earlier this year.
I've just signed the deferred payment agreement and hoping to let the property to gain some income toward the fees.
The agreement says the debt must be settled if the property is sold - fair enough - or 90 days after death. My question is how on early are you able to sell a house and complete with the funds available to pay within 90 days?! I don't think that's long in the house-selling world.
Actually I think my main question is does the income from rent go straight to the council to reduce the amount of debt owed - or does it accrue in my Aunt's account for paying the loan on sale or passing away?
Zoe
I'm new here, sadly my Aunt had to go into a home earlier this year.
I've just signed the deferred payment agreement and hoping to let the property to gain some income toward the fees.
The agreement says the debt must be settled if the property is sold - fair enough - or 90 days after death. My question is how on early are you able to sell a house and complete with the funds available to pay within 90 days?! I don't think that's long in the house-selling world.
Actually I think my main question is does the income from rent go straight to the council to reduce the amount of debt owed - or does it accrue in my Aunt's account for paying the loan on sale or passing away?
Zoe
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