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Jojoey
Starting Member
7 Posts |
 Posted - 30 July 2012 : 12:54:26
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Hi there
I went BR in Jan this year. I had a flat that I was renting up to this point. The OR has now sent a letter that states:
The OR has disclaimed his interest in the property.
I am not sure how this impacts me. Is the flat now mine again?
How does this work. Any advice welcome.
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year 2029
Average Member
590 Posts |
Posted - 30 July 2012 : 13:00:45
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Hi Jojoey and welcome,
Is this a flat that you are renting out to someone?
Is it in a lot of negative equity by any chance?
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Views expressed are my own personal views, based on what has happened during my own BR process unless otherwise stated.
Professional advice should always be sought. |
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Jojoey
Starting Member
7 Posts |
Posted - 30 July 2012 : 13:06:43
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quote:
Originally posted by year 2029
Hi Jojoey and welcome,
Is this a flat that you are renting out to someone?
Is it in a lot of negative equity by any chance?
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Views expressed are my own personal views, based on what has happened during my own BR process unless otherwise stated.
Professional advice should always be sought.
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Jojoey
Starting Member
7 Posts |
Posted - 30 July 2012 : 13:10:31
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The flat is currently empty. I think the tenant vacated 2 months ago.
I don't think there is a lot of negative equity, but nothing worth selling on to make a profit from.
What do I need to do?
Contact the mortgage company as they have not repossessed the property from me.
Thanks |
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year 2029
Average Member
590 Posts |
Posted - 30 July 2012 : 13:22:23
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Have you not got an LPA looking after the property on behalf of your mortgage company?
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Views expressed are my own personal views, based on what has happened during my own BR process unless otherwise stated.
Professional advice should always be sought. |
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Jojoey
Starting Member
7 Posts |
Posted - 30 July 2012 : 14:06:13
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No LPA appointed.
quote:
Originally posted by year 2029
Have you not got an LPA looking after the property on behalf of your mortgage company?
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Views expressed are my own personal views, based on what has happened during my own BR process unless otherwise stated.
Professional advice should always be sought.
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year 2029
Average Member
590 Posts |
Posted - 30 July 2012 : 14:19:43
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Hi, how come you only think the tenant vacated?
Was the OR collecting the rent?
Do you have a 'family home' as well?
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Views expressed are my own personal views, based on what has happened during my own BR process unless otherwise stated.
Professional advice should always be sought. |
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year 2029
Average Member
590 Posts |
Posted - 30 July 2012 : 14:42:28
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Also, are you up to date with mortgage payments on the one that was rented out?
Sorry for all the questions, it just helps to build a bigger picture.
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Views expressed are my own personal views, based on what has happened during my own BR process unless otherwise stated.
Professional advice should always be sought. |
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Jojoey
Starting Member
7 Posts |
Posted - 30 July 2012 : 15:19:48
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The property is empty as my parents went round to visit the property and it was empty.
I have about 6 months arrears on this property.
I am living with my partner who is renting at the moment.
Thanks
quote:
Originally posted by year 2029
Also, are you up to date with mortgage payments on the one that was rented out?
Sorry for all the questions, it just helps to build a bigger picture.
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Views expressed are my own personal views, based on what has happened during my own BR process unless otherwise stated.
Professional advice should always be sought.
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year 2029
Average Member
590 Posts |
Posted - 30 July 2012 : 15:32:03
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Do you wish to keep the property?
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Views expressed are my own personal views, based on what has happened during my own BR process unless otherwise stated.
Professional advice should always be sought. |
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Jojoey
Starting Member
7 Posts |
Posted - 30 July 2012 : 16:07:15
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Potentially if I am able to put a tenant in there. What would be the process involved. Do I need to go to court to make this my property legally?
quote:
Originally posted by year 2029
Do you wish to keep the property?
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Views expressed are my own personal views, based on what has happened during my own BR process unless otherwise stated.
Professional advice should always be sought.
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year 2029
Average Member
590 Posts |
Posted - 30 July 2012 : 16:11:24
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Is the letter from the OR not stamped with a court seal?
I had a similar sounding thing happen, but I let the mortgage company deal with it, as I just couldn't afford it.
If they have removed their interest, it sounds like its up to you and your mortgage provider.
One thing to bear in mind though, is that any rent gets handed over to the OR, but you would still be liable for the mortgage.
Sounds like it'll need a little bit of discussion between you, your mortgage provider and OR/Trustee.
Did you not have to give copies of tenancy agreements etc over to the OR?
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Views expressed are my own personal views, based on what has happened during my own BR process unless otherwise stated.
Professional advice should always be sought. |
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Jojoey
Starting Member
7 Posts |
Posted - 31 July 2012 : 08:05:31
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No LPA appointed.
quote:
Originally posted by year 2029
Have you not got an LPA looking after the property on behalf of your mortgage company?
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Views expressed are my own personal views, based on what has happened during my own BR process unless otherwise stated.
Professional advice should always be sought.
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year 2029
Average Member
590 Posts |
Posted - 01 August 2012 : 13:39:49
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Hi Jojoey,
I looked through some of my paperwork where I had a similar situation with one of my properties.
I received the 'disclaimed interest' letter, and within a week it had been reposessed.
It was under an LPA though.
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Views expressed are my own personal views, based on what has happened during my own BR process unless otherwise stated.
Professional advice should always be sought. |
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disclaimed interest in the property
