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short1
Starting Member
United Kingdom
10 Posts |
 Posted - 26 March 2010 : 15:56:49
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My case was passed to IP by OR as they thought there was more than 10k in equity in my home which there wasn't/isn't following a number of valuations.. I have been offered to buy BI for almost 5k which is good news but I'm told by IP's office that i don't need to appoint solicitor as the IP will just remove their interest from land registry on receipt of they money... is this correct as I was under impression that I needed legal help?
short1 |
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Bridgewood
Junior Member
United Kingdom
222 Posts |
Posted - 26 March 2010 : 16:53:14
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Hi Short1
If you are discharged, and you are buying back your interest, then I don't think you need to get any legal help as the trustee would usually do the necessaries at the land registry.
If a third party is buying the interest they would definitely need independent advice
It may be worthwhile to get a land registry search after the event (you can do them online for £4) on your property just to make sure the bankruptcy registrations have been removed |
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Housing
Senior Member
United Kingdom
1399 Posts |
Posted - 26 March 2010 : 20:22:48
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Hi,
I agree, you should not require a solicitor for this it is a simple Deed of Variation. Is it a family member/partner/joint owner buying the BI?
Good luck, Richard
"There are no problems - only solutions" |
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short1
Starting Member
United Kingdom
10 Posts |
Posted - 31 March 2010 : 14:25:42
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quote:
Originally posted by Housing
Hi,
I agree, you should not require a solicitor for this it is a simple Deed of Variation. Is it a family member/partner/joint owner buying the BI?
Good luck, Richard
"There are no problems - only solutions"
short1 |
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short1
Starting Member
United Kingdom
10 Posts |
Posted - 31 March 2010 : 14:27:39
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Thanks guys, it is my mum who is buying the BI but she doesn't want any interest in my property it is more of a gift than a loan. So do I just hand over the money, do a land registry search and that's it? and what will my mum need to do? I have read lots of post recommending solicitor so is that just when your BR is handled by OR and not a trustee? Many thanks for your help.
short1 |
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Topic |
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BI legal fees
