Note: You must be registered in order to post a reply. To register, click here. Registration is FREE!
T O P I C R E V I E W
blackadder19
Posted - 18 January 2010 : 19:54:49 My husband is considering bancruptcy. All the debts are in his name only. Am I liable for any of his debts? What happens in the case of property owned abroad in joint names?
1 L A T E S T R E P L I E S (Newest First)
Reviva UK
Posted - 18 January 2010 : 21:48:45 Hi
When one is declared bankrupt ALL of that persons assets belong to the official receiver - worldwide.
Also please remember that the Statement of Affairs is a very serious legal document and if you intentionally hide assets it is a criminal offence.
The official reveiver will look to release his half of the equity, however this can often be very difficult dependig upon which part of the world it is.
You are likely to be able to make an offer for the equity to remove the asset from the bankruptcy estate.
