Hi been to see an insolvency expert who says my wife has the right to 50% of the equity even though bi am the only person on the mortgage as we have lived in the house for nearly 8 years and she has contributed to the home all that time, very confusing and also told they will not visit my home to look at the contents please clarify.
The advice you have received on both points is correct in principle. You will not receive a visit to your home as the OR is not interested in household items although they would soon change that view if you were found to have a Van Gogh over the mantlepiece!!! Your wife undoubtedly has a proprietary interest in your property. Whether it is likely to be deemed as 50% depends on the total equity value and the level of her contributions over the years.
The advice you have received on both points is correct in principle. You will not receive a visit to your home as the OR is not interested in household items although they would soon change that view if you were found to have a Van Gogh over the mantlepiece!!! Your wife undoubtedly has a proprietary interest in your property. Whether it is likely to be deemed as 50% depends on the total equity value and the level of her contributions over the years.
equity in house
Posted - 24 July 2008 : 19:05:20
