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| T O P I C R E V I E W |
| Lynne.63 |
Posted - 16 September 2010 : 14:07:17
i separated from my husband in may this year but still live in his house(marital home)he has moved out. The house has never been in my name either on the deeds or on the mortgage due to the state of our marriage when he bought it in 2005.
I have recently been made redundant and cant pay my debts which total around 40K
If i go bankrupt can the house be sold - as i dont want to affect my childrens/husbands home - there might be about 5k equity
thanks |
| 2 L A T E S T R E P L I E S (Newest First) |
| Bigal4787 |
Posted - 23 September 2010 : 10:23:20
Lynne,
with property, the thing that the OR looks at when they get your case, is who is shown as the registered owner(proprietor) at Land Registry. If the property is shown as solely owned in your estranged husbands name, then the OR would not take any action, what they look at is what if any assets you have.
As Paul stated, the only thing would be if a creditor felt that you had accrued any beneficial interest in the property, and whether they could pursue it that way, but with £5k in equity(which could be a lot less) it is likely that the OR or an IP would not pursue it, as the cost would outweigh the benefits. The only danger, would be if your estranged husband failed to keep up the mortgage payments.
Big Al |
| Reviva UK |
Posted - 16 September 2010 : 20:46:24
Hi
you would need to be able to demonstrate that you have no claim on the property as it may be arged that you do. This may involve how you contributed to the upkeep etc.
The other area that may be in your favour is that if your claim is potentially small because of contributions, and the total equity os 5k on a good day then your equity may well be neglibible and the OR is not likely to pursue a claim.
Good to have all the information to had upfront before they ask
Paul Johns
Bankruptcy Specialists
Reviva UK
www.revivauk.com
08454 751 851
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