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T O P I C R E V I E W
melissa35
Posted - 14 March 2010 : 18:21:31 Hi I have booked an appointment to go bankrupt on the 30/3/10.
My house has no equity, or no more than £2k; at what point can a friend etc 'buy the interest'?
Also does my ex partners income get taken into account when the payment order is being processed? We split las year but share the house.
3 L A T E S T R E P L I E S (Newest First)
Bridgewood
Posted - 15 March 2010 : 09:38:23 Hi Melissa
Once the OR has a valuation of the property, and confirmation of the mortgages and charges registered against it they will be able to agree an amount to settle their interest in the property.
This will have to involve your ex partner if he has an interest in the equity but isn't bankrupt
If your ex partner no longer lives with you, but is a joint owner, the OR will assume that they will be liable for half of the mortgage when calculating any income payment agreement - but it would depend on their circumstances as well as yours
Blackie
Posted - 15 March 2010 : 09:29:20 Hiya Melissa
Best of luck for the 30th!
It is unlikely that you will need to make an offer for the house due to the small amount of equity. I take it that your Ex owns a 50% share of the house so your equity will be £1,000. I would suggest that you will be asked by the OR whether you wish to buy back your interest in the property for a nominal £1 plus £225 legal costs.
All the best
John Blackadder
debtinfo
Posted - 14 March 2010 : 18:35:27 the OR will send you a letter after about 2-3 months asking if you want to make an offer
As you are ex partners then all he will be expected to pay is half the outgoings
