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T O P I C R E V I E W
SKA
Posted - 21 January 2009 : 16:30:12 Hi, I was made bankrupt last April and should be discharged in 3 months. The OR knew i had a property which i co-owned with a friend. I wanted my share to be transfered to my dad (as he takes care of the costs as i cant) and submitted the paperwork. Now the OR wants me to re-submit the paperwork as the property is in negative equity. I wanted to know if I automatically get discharged and the property remains in my name what happens to it? Is it automatically left to me or will the OR still keep it? Many thanks, Sonia
3 L A T E S T R E P L I E S (Newest First)
Reviva UK
Posted - 21 January 2009 : 19:51:52 Provided the OR has started the process that will be fine
Paul Johns Assisted Bankruptcy Specialists Reviva UK
Posted - 21 January 2009 : 19:12:45 Thanks for that. Would you know what happens if the transaction is incomplete on my discharge date?
JulianDonnelly
Posted - 21 January 2009 : 17:15:28 Hi Sonia,
If the property is in negative equity, the OR will ask you to nominate a 3rd part to buy your "beneficial interest" for £1 + costs. This transaction (once completed) will mean the property now rests outside of your BR and cannot be re-visited.
Julian Donnelly Spokesperson for www.Bankruptcyhelp.org.uk Don't forget the helpline on 0800 078 9367
