Hi i would just like some clarification on the following please.
What happens with a shared ownership house in bankruptcy. I own 50% and the housing association owns the other 50%. My share currently in 8k negative equity.
Also would my company car be affected by bankruptcy.
If your home is in negative equity, then you can offer to buy back the beneficial interest. If they don't accept, then the OR will value the house again in 2 years and 3 months to see if there is any equity then.
If your employer owns the car, then it won't be an asset in the bankruptcy.
Please speak to an expert regarding these two queries and also to have all your options explained.
Hi i would just like some clarification on shared house ownership and company cars. Thanks.
Posted - 23 August 2012 : 01:27:00
