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Steve.sw
Starting Member
1 Posts |
 Posted - 08 August 2011 : 14:51:18
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HI, I went BR in May 2009 and was discharged after about 9 months. My only real asset was a50% share in ahouse in Spain, which at the time, my ex-wife was still inhabiting. I duly declared this to the OR and sent him the deeds which I held. Due to problems with the paperwork they have been unable to find any buyer for the property although my ex-wife is apparently now cooperating to try to sell the house. Can anyone tell me where I stand as regards the equity and the 'three year' rule Please? This was teh matrimonial home although I had moved out at the time of the BR. My ex-wife and children were still, at that point, living there. What is the 'two years and three months 'rule please and does that apply to a house in Spain? What will happen if they cannot find a buyer within three years?
Many Thanks, Stressedoutsteve. (not any more actually!). |
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debtinfo
forum expert
2826 Posts |
Posted - 08 August 2011 : 22:43:29
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| The one that really counts is the 3 year rule which says that if they have not started proceedings by the 3 year point the property returns to you |
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stressedoutsteve
Starting Member
United Kingdom
42 Posts |
Posted - 11 August 2011 : 10:04:23
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HI, thanks for that, but what does 'started proceedings' mean please?
The Receiver and his agents tell me the house is on the market yet the estate agents tell me hat they cannot market the house due to the fact there are paperwork problems!
So, can you please clarify exactly what they need to do before the three years are up?
Many Thanks,
steve |
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debtinfo
forum expert
2826 Posts |
Posted - 11 August 2011 : 10:18:38
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| What they need to have done is make an application to the court for an order of sale or repossession. |
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stressedoutsteve
Starting Member
United Kingdom
42 Posts |
Posted - 11 August 2011 : 15:23:57
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| Thanks again, so just trying to get KPMG to list it with an estate agent is not enough? |
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What is the 'two years and three months' rule please ?
