New Supply Shared Equity administrative procedures

Section Eight: Adding or removing a person to the shared equity documentation

8.1 An existing shared equity owner may seek to add a person who will assume liability under the shared equity documentation. Alternatively, an existing shared equity owner may seek to remove a person from any liability under the shared equity documentation. In either case, the following procedures must be followed.

8.2 The shared equity owner will be responsible for meeting all costs (including those incurred by the Local Authority or Registered Social Landlord and Scottish Ministers) when adding or removing a person to the shared equity documentation. The Local Authority or Registered Social Landlord must provide an estimate of proposed costs to the owner as soon as possible.

8.3 The Scottish Government has prepared ASSEP Procedures for use by Local Authorities and Registered Social Landlords administering the Scottish Government's shared equity schemes. The document contains template documentation to be used for the various types of After Sales transactions. A copy of the ASSEP Procedures can be found on the Scottish Government website at http://www.gov.scot/Topics/Built-Environment/Housing/BuyingSelling/lift/ASSEPdocument