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Suzanne.sr
Starting Member
2 Posts |
 Posted - 01 February 2011 : 21:10:37
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| My partner was made bankrupt in august 2010, he is under the doctor with severe depression, today he received a call from the trustee, asking for permission for a valuation to be done on our house, i have refused, and the next step is to buy my partners share (which i cannot do, as i do not work, and have no saving) then the step after is to instruct a estate agent to get a valuation and possibly put on the market. Can this be done????? we are not married, and i own half this house, also have 3 children. PLEASE HELP |
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Housing
Senior Member
United Kingdom
1399 Posts |
Posted - 01 February 2011 : 21:18:41
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Suzanne
So sorry to hear of your partners depression. If he has not already done so, make an appointment with your GP and get his GP to arrange for some counselling. This will assist greatly.
With regard to the trustee seeking a valuation. Do not upset the OR or the trustee - it will not assist. However, if the property is in joint ownership, you will, I am sure be able to buy the BI
Is it in positive value or negative at present do you think?
Ask a local estate agent to give you a quick sale valuation and ask for it in writing as soon as you can
Is there a second charge on the property?
Do not panic (easier said than done, I am aware of that). However, you have time to look at a range of solutions so take a step at a time
You may also wish to seek some advice from your local CAB - they will be able to give some support and thrash through some ideas
Come back with more info
Richard
"There are no problems - only solutions" |
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RHB
Senior Member
1159 Posts |
Posted - 02 February 2011 : 13:39:35
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| I'm afraid that as your partner is bankrupt they can ultimately force a sale & give you back your half of the equity. I would ring back & agree the valuation, if it is more than you think get one done yourself. Then at least you know what you are dealing with in terms of buying back your partners BI. |
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Richard P
Senior Member
United Kingdom
1701 Posts |
Posted - 02 February 2011 : 14:42:44
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i would suggest agree to access to property but also arrange your own valuation asking for 60 day quick sale price.
also do your home work on similar properties in the area, (upmystreet or ourproperty.com) as this may give you a platform to argue with fact.
Housing is correct in saying dont panic (yet) the human mind tends to work better whenallowed to think freely
Richard |
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Housing
Senior Member
United Kingdom
1399 Posts |
Posted - 02 February 2011 : 15:57:16
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Hi
Also look at the "Rightmove" site and download similar valuations to your property
Come back to the Forum as necessary - always someone to offer some thoughts and advice
Housing
quote:
Originally posted by Richard P
i would suggest agree to access to property but also arrange your own valuation asking for 60 day quick sale price.
also do your home work on similar properties in the area, (upmystreet or ourproperty.com) as this may give you a platform to argue with fact.
Housing is correct in saying dont panic (yet) the human mind tends to work better whenallowed to think freely
Richard
"There are no problems - only solutions" |
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Suzanne.sr
Starting Member
2 Posts |
Posted - 06 February 2011 : 01:45:50
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Many thanks for all your advice, going to see solicitor on tuesday. thanks again regards suzanne
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Housing
Senior Member
United Kingdom
1399 Posts |
Posted - 06 February 2011 : 13:30:53
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Good luck and post back with an update for others to share and also, of course, if you need to run any more questions by the Forum.
I wish you well, Housing
quote:
Originally posted by Suzanne.sr
Many thanks for all your advice, going to see solicitor on tuesday. thanks again regards suzanne
"There are no problems - only solutions" |
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Topic |
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Partner bankrupt has severe depression
