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How does process of buying property title work ?

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Amanda.68
Starting Member

1 Posts

Posted - 11 February 2012 : 12:11:58

we have a joint owned home with no equity, how does the process of buying the property title for a pound work, as a spouse will I qualify to do this and what would I have to provide?

Viki.W
forum expert

United Kingdom
2211 Posts

Posted - 11 February 2012 : 12:42:28

Hi Amanda,

If this is the home you live in then they will value the property again in 2 years and 3 months from the date of the bankruptcy and deal with it then.

You can no longer buy back the beneficial interest for Ł1, but you can offer to buy it back, making an offer of nearer Ł1000.

Please speak to an expert for further advice.

Viki Warbrooke
Vincent Bond & Co
If you would like free advice on all options available and help with your bankruptcy petition please contact me at http://www.vincentbond.com/about_us_Viki_Warbrooke.asp
Please read my experience of debt via my blog at http://vikiw.blogs.iva.co.uk/

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