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T O P I C R E V I E W
darrenp746
Posted - 07 August 2009 : 16:39:27 i'm currently bankrupt should be discharged october. i have been given option from a lender to keep a buy to let property as there is no equity in it and trustee has said they have mo interest in it. i would like to keep it, but my question is, will anyone be able to get at any future equity in it. will anyone that i owed money to prior to bankruptcy have any claim on it in future?
3 L A T E S T R E P L I E S (Newest First)
Angela Rosler
Posted - 06 September 2009 : 07:13:53 The interest in the property would have vested in the Trustee on the making of the BO so to deal with it properly, you will need to purchase the interest.
If there is no value to the equity, the cost is likely to be restricted to a nomininal sum for consideration plus conveyancing and should total in the region of £500
Angela Rosler Insolvency Manager
darrenp746
Posted - 05 September 2009 : 22:54:56 thank you for the reply. the trustee has said i canjust let out the property and any profit would have to be declared to them. you say about purchasing the beneficial interest off of the OR is that necessary as trustee says they have no interest in it, if so how much is it likely to be to purchase it back? darren
quote:Originally posted by Reviva UK
Once you purchase the beneficial interest back from the official receiver then your only liabilities are the mortgages and any secured charges.
creditors covered in the Br are not able to pursue you after Br
Posted - 08 August 2009 : 00:05:55 Once you purchase the beneficial interest back from the official receiver then your only liabilities are the mortgages and any secured charges.
creditors covered in the Br are not able to pursue you after Br
