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Colin.pg
Starting Member
2 Posts |
 Posted - 11 May 2013 : 18:48:10
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Hello there. My wife is the sole owner of the house we both live in. The ownership deeds and mortgage have always been in her sole name. I have never been involved with the mortgage or on the deeds.
I am considering filing for bankruptcy due to job loss and debts of £17,000 which I can not pay.
Would the house be safe if I go bankrupt?
Thank you kindly. |
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Viki.W
forum expert
United Kingdom
2211 Posts |
Posted - 11 May 2013 : 20:10:42
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Hi Colin,
Why is your wife always been the sole owner?
Is there any equity?
Have you contributed to the monthly mortgage costs or a refurbishment or home improvements?
Please post back and also speak to an expert for 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 |
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Colin.pg
Starting Member
2 Posts |
Posted - 12 May 2013 : 19:47:45
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[quote]Originally posted by Viki.W
Hi Colin,
Why is your wife always been the sole owner?
Is there any equity?
Have you contributed to the monthly mortgage costs or a refurbishment or home improvements?
Please post back and also speak to an expert for 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
Hi again
Thank you for your reply Viki.
My wife purchased the house when we were separated from each other, so she, solely took out a mortgage. I did not want my name upon the deeds when we got back together. I have never contributed to the mortgage costs or refurbishment etc as my wage is very small. I pay for the utility bills and towards food and travel.
I think there is around £50,000 equity in the property but none of it is mine.
Thank you again.
Colin
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Viki.W
forum expert
United Kingdom
2211 Posts |
Posted - 12 May 2013 : 20:31:31
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Ok, if she bought the house herself when you were separated, and the deposit came from her and nothing from you or joint savings etc. And there were no previous jointly owned properties, or properties solely owned by you that were sold to introduce money to her house, then you have no beneficial interest in the property.
Please speak to an expert for advice so you can have all your options explained.
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 |
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Hello there. House deeds and mortgage in my wife's name. Would it be safe if I went BR ?
