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T O P I C R E V I E W
sos
Posted - 22 January 2009 : 00:10:23 my husband is a uk citizen. he filed bankruptcy in england. we jointly own a house in america. can the insolvency service in the uk take our house?
3 L A T E S T R E P L I E S (Newest First)
Reviva UK
Posted - 22 January 2009 : 07:52:40 Hi
the money used from the parents - did they send the money to the US or did they give it to him first to send.
I asssume the house was traced via bank account details.
You are certainly in hot water and the forum is not the place to get advice on the matter because of the complexity and difficulty of the case.
I would suggest either contacting the helpline so they can put you in touch with a suitable advisor alternatively contact an assisted bankruptcy expert who can talk through the issues at greater length.
Paul Johns Assisted Bankruptcy Specialists Reviva UK
Posted - 22 January 2009 : 00:53:08 thank you for your quick response. unfortunately he did not declare the house on the form but they have traced it. he left his uk house to come live with me. at the time we used the profit from the sale of his parents house to buy the house here in US 12 months prior to him filing bankruptcy. at the time we bought the house we were not married. the deed is under both our names but the mortgage is only under my name. would i still owe the mortgage money? most of the house equity came from my husband parents home sale. we just received paperwork saying that they are doing a BRO what are the ramification of that? does the insolvency service have jurisdiction in america? this is both our residence now. my husband isnt planning going back
Reviva UK
Posted - 22 January 2009 : 00:34:45 Hi and welcome to the forum
If he has already filed then the Insolvency Service will own all of his assets worldwide. I assume he has put details of the property on the form. Not to have done so is a major problem.
If the property in the US is jointly owned then the official receivers share of equity will depend upon who pays what and who put what deposit into the property. worst scenario is probably 50 / 50.
if he is resident in the UK then the US property will be viewed as an investment property and the OR would seek to either release your husbands equity ( if there is any) or put a charge on the property for future benefit.
If you live in the US and he filed in the UK then if the house if your residential home and in negative equity it is probably safe.
As you can see I am in the dark a little so much more info is required to be able to give you some decent advice and guidance.
Paul Johns Assisted Bankruptcy Specialists Reviva UK
