Start with an asset inventory
List your home, any other property, vehicles, savings, investments and valuable possessions. Record ownership, approximate value and any finance secured against them. Include jointly owned assets and items whose ownership is disputed.
Do not transfer, give away or sell an asset to try to keep it outside an arrangement. Tell the adviser about previous transfers so they can assess the position properly.
Your home and equity
The trustee needs a reliable valuation and up-to-date secured borrowing figures. Equity is the value remaining after the relevant secured borrowing; your ownership share also matters.
In a jointly owned property, your interest is the starting point, not automatically the other owner’s share. However, realising your interest can still affect the household. Both owners should understand the proposal.
The practical question is not just “will I lose my home?” Ask exactly how my interest will be dealt with, by when, and what happens if the agreed route cannot be completed.
Written property arrangements
Where an agreed sum is to be paid instead of selling, AiB guidance requires the equity arrangement to be documented, including on Form 1B where applicable. The agreed valuation treatment has conditions: it is not a blanket promise that future changes or a sale are irrelevant.
A home may be excluded in specific circumstances through an agreed legal process. That needs explicit confirmation before signing. Do not interpret a general sales statement as an exclusion.
Consider a practical scenario: a relative is expected to provide funds later. Ask what happens if that person cannot pay. The answer is part of assessing the risk now, not an issue to leave until the deadline.
Your car and vehicle finance
Tell the trustee who legally owns the vehicle, whether finance remains, its current value and why it is needed. Travelling to work, caring responsibilities and disability needs are important facts to explain.
A vehicle owned outright is different from one held under hire purchase or another finance agreement. The finance contract and the insolvency treatment both require attention. Continuing the monthly finance payment does not itself prove that the arrangement is unaffected.
Ask for the treatment of the vehicle and any replacement needs in writing. Avoid relying on a general vehicle-value threshold without having your situation checked.
Essential belongings and new assets
Necessary household items and certain other essential assets receive different treatment from valuable non-essential property. Give a full description rather than deciding yourself what to omit.
Money or assets acquired later can also matter. Tell the trustee about an inheritance or other significant receipt before spending it; see windfalls during a trust deed.
Before accepting any asset proposal
Make sure you can explain the agreement back in ordinary language:
- Which assets are involved or excluded?
- What value and ownership share are being used?
- Is there a payment, sale or other arrangement?
- What are the deadlines and conditions?
- What happens if circumstances change?
If preserving an asset is your priority, ask an independent adviser to compare Scottish alternatives before making a commitment.
Sources & further reading
Sources checked for this guide on 6 September 2026. Follow the original guidance for full detail.
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