Hello I was made bankrupt in 2006 and prior to that in 2005 i built 5 houses on a plot of land,After i became bankrupt it came to light that two very small areas were not assigned to each of the houses i built and consequently i still owned the slivers of land. The trustee tried to sell the land to the affected home owners who refused to buy them stating that they should have been theirs anyway and the land had infact no value. Since i was still the owner i agreed to help them and assign the land to them free of charge if they paid the legal costs to which they agreed but i was unable due to my bankruptcy showing on the land registry file.Now the trustee has closed his case on me and he has no interest in the land but he has said it will be returned to the official reciever as an unrealised asset. What will happen to the land and will the residents be able to get what should have been theirs anyway but for the mistake of a solicitor in the first place ? Or will the O R send it back to me so as i can sort it out for the owners ? Thank you
The asset will remain with the OR indefinitely unless they decide to do something with it. Are the pieces of land being used by the home owners, are they required for access
There is a strip of land approx 1m wide that runs the front of all the properties inc their paths etc and one corner of the carport that is approx the size of a parking space but cannot be used as such as their is a brick pillar in the way
Unrealised asset
Posted - 29 July 2011 : 10:04:49
