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
Will.sm
Posted - 21 February 2016 : 16:25:33 Hi, please could someone advise me of what happens to my property in the following situation. I was declared bankrupt 2 years ago i own my house so an order was placed on it as it was in negative equity the OR said they would get back within 3 years to determine what was going to happen to the property ( i think they were going to see if the value improved ), if they revalue the house into positive equity do they have a time scale to sell the house whilst i am still living there or will they just repossess it? Thank you
2 L A T E S T R E P L I E S (Newest First)
Viki.W
Posted - 24 February 2016 : 08:18:04 The OR will value it again at the 2 year, 3 month mark and then they have up to 3 years from the date of bankruptcy to deal with it.
Have you had the house valued yourself? Is there any equity now?
Not sure although I think the OR can keep an interest in it for two years and three months but what happens after that I have no idea.
I am sure Viki will be along to advise further.
The friend in my adversity I shall always cherish most. I can better trust those who helped to relieve the gloom of my dark hours than those who are so ready to enjoy with me the sunshine of my prosperity. – Ulysses S. Grant
