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T O P I C R E V I E W
team
Posted - 17 June 2009 : 21:27:39 hi,please help. i own my own property which is most definitely in negative equity,and has just had a charging order attached to it. i also have unsecured debts of 90k. i have two young children,a partner who doesnt work at present and have just lost my employment.[great eh???] two questions please 1=if i go bankrupt can i keep my property? 2= six months ago i/we removed myself from a property i owned with a relative as i knew my credit file was about to be wrecked and i/we didnt want them to be affected by affiliation to me. if i were to go bankrupt what would happen with this property as im still co owner via a declaration of trust agreement but not legally as not on the title deeds??? thanks
6 L A T E S T R E P L I E S (Newest First)
RHB
Posted - 20 June 2009 : 07:47:46 yes basically.
team
Posted - 19 June 2009 : 16:04:00 hi rhb, yes i was on the deeds 6 months ago and im aware of what it looks like and even though the true reason for removing myself from the mortgage and deeds was to protect my relatives credit rating will the equity in this property be requested even though im not on the deeds and havnt been for six months?
RHB
Posted - 19 June 2009 : 07:18:21 Were you on the deeds 6 months ago? I think it will be seen as you having an interest in that house & if there is equity in the house your share will have to be realised. If you do not declare any of this you run a risk of running into trouble because as you have written it it looks a clear case of attempting to hide assets from your creditors.
team
Posted - 18 June 2009 : 21:54:38 thankyou for your response. expert advice required if i will keep my property and also 2nd question. please
Niobe
Posted - 18 June 2009 : 21:34:17 Hi,
I don't know about your second property, hopefully an expert will be along soon to answer that one.
Your house should be ok if it is in negative equity but you will have to buy the beneficial interest which will be £1 plus £211 costs.
The glimmer gets brighter all the time
Jan xx
team
Posted - 18 June 2009 : 17:32:53 expert help rquired please