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greatbrits
Junior Member
174 Posts |
 Posted - 18 June 2008 : 14:20:31
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my husband nd i are about to declare ourselves brupt. our matrimonial home has no equity but my hubby has a third share in his parents home. he pays the mortgage. two years ago the home was re mortgaged & our share was used for debts. my hubbys dad is now dying from cancer. can this propertys equity which is thier share, be touched?
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m and v
Average Member
United Kingdom
760 Posts |
Posted - 18 June 2008 : 15:33:47
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Hi greatbrits - welcome to the forum.
I need one of the BR assist experts to answer this one for you. It's not something I have knowledge of personally.
Don't worry one will be on line to day to answer your question and give you anymore advice you need.
Kind Regards
Vicki x |
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melanie_giles
Senior Member
1191 Posts |
Posted - 19 June 2008 : 08:20:48
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Your husband - or rather his parents - have an argument for marshalling, which means they may have a legitimate claim that your husband no longer has an interest in their property on the basis of the recent borrowings used to repay his debt. Why was he not taken off the deeds at that time?
For an informal chat about any financial difficulties, or advice as to the options available, I can be contacted via my website - www.melaniegiles.com |
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JulianDonnelly
Junior Member
United Kingdom
325 Posts |
Posted - 19 June 2008 : 10:57:12
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Hi Greatbrits and welcome to the forum.
The OR will look at your husbands interest in the parents' property. If your share was used to pay debts, and you have no more equity, providing you have documentary evidence (ie bank statements etc), the OR should sell your beneficial interest to a third party (who you can nominate) for £1 + costs (circa £250).
However, to be sure, I would suggest you contact a bankruptcy specialist to discuss this in depth to see exactly where you stand. Brett England of England, Jackman & Spacey does excellent work in this area, as does Paul Johns of Reviva. You can contact them through their web links on the experts page.
Hope this helps.
Regards
Julian Donnelly
Spokesperson for www.Bankruptcyhelp.org.uk |
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can parents' propertys equity be touched?
