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| T O P I C R E V I E W |
| Viki.W |
Posted - 30 May 2008 : 14:11:18
Hey Julian and Paul, Hope you are both ok. Could do with your advice please. There is a lady on the iva site who's husband is in approx £50K debt, he's a self employed carpenter who has been told by an IP that he can't propose an IVA (not earning enough or something like that). They are renting at the moment but HER mother has offered to buy them a house, no mortgage, just out right, she's calling it an early inheritance...she wants it to be in her daughter's name only.
The mother does not want to keep it in her name, reasons given are she's 80 and doesn't want to have to deal with it, maybe it's something to do with her estate. She absolutley will not give cash to the her son-in-law to clear the debts as she's done this and he got into debt again.
If this lady accepts the house as a gift from her mother but then her husband goes bankrupt, it's all his debt, is the house safe?
Your expert opinions would be greatly appreciated. Viki X |
| 3 L A T E S T R E P L I E S (Newest First) |
| JulianDonnelly |
Posted - 02 June 2008 : 10:07:16
Hi Viki,
Glad I could help.
Regards
Julian Donnelly
Spokesperson for www.Bankruptcyhelp.org.uk |
| Viki.W |
Posted - 30 May 2008 : 14:19:41
Thanks for your quick reply Julian, I'm going to post that information on the thread for her. Have a good day. Viki X |
| JulianDonnelly |
Posted - 30 May 2008 : 14:16:01
Hi Viki,
I would not see this as an issue as this is a gift from Mother to Daughter and this gentleman would not be contributing towards the property as it will be unencumbered.
I suggest the Daughter seek legal advice as to making sure her husband has no legal right to the property when it is registered to her.
Julian Donnelly
Spokesperson for www.Bankruptcyhelp.org.uk |
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