We got mortgage in joint names 3 years ago. We got married over a year ago. He moved back with his parents 6 months ago. I transferred the mortgage into my name only and paid him half of the value of the equity at that time to have house put in my name. He’s now nicely informed me that he has some massive debts worth more than the house and that he’s thinking of going bankrupt. I haven’t filed for divorce or legal separation as solicitor’s fees cost little fortune and thought it would be unnecessary. Will they take the house if he goes bankrupt?
equity at the moment is about 15k he paid 9000 i paid 5000 deposit The house is in my sole name now. When I paid him off the equity was only a bit higher so he got 10000
Hopefully all should be well as although he paid a larger share of the deposit, equity is less now. Have you got the transaction documented to prove you paid the money when the house was transferred?
Also, I would proceed with divorce if i were you if he is going to run up debt & you have no prospect of getting back together.
My hubby wants to go bankrupt
Posted - 16 March 2011 : 17:39:07
