I was delacred BR in feb 2005 I was discharged 12 months later and finshed my IPA june 2008 I seperated from my partner feb 2008 afrer 4 year relationship I have been told I can claim for my half of the house but as I was BR they may take the money to pay my credtitors is this right
if your beneficial interest in the property gained by you during the term of your bankruptcy is in positive equity and subsequently realised by you making a claim then it is too late for the OR to claim this money from you.
The OR has had his limited time to gather all info and would I'm sure have looked at the property you refer to.
However, if you had a stake in the property at the time of bankruptcy then the OR would normally have claimed this. If the property was in negative equity at the time then he would still have ensured your benefical interest, as a bankrupt, was sold on.
And finally, if there is equity and you do have a claim you cannot force a sale to realise the money but you can place a charge on the property for the sum of your claim. You would need to be able to evidence the Court that your claim is valid. With this done the owner cannot sell the property without you being paid from the net proceeds.
So am I correct in saying that my BR will not affect my claim on the house as at the time of BR we were living together and the house was and still is totally in his name because of this the OR had no interest in the proberty he also declared to the OR i was paying rent up my BR which changed afterwards once I was discharged we became engaged this is so confusing sorry if I sound a little dim just need to get it right in my head before I go a head with anything had to many confliting storys from solicitors
Mmmm. If you weren't contributing to the house at the time of bankruptcy why do you think you have a claim now? Have you suddenly put money in or paid towards the costs?
Just thinking that if I were your partner then the whole bankruptcy thing could work in my favour!!!
Yes I understand what you are saying but at the time I was BR I had no interest in the house it wasnt until he asked me to marry him Xmas 2006 thats I started to pay into the house that when we had talked about having me put on the morgage but knew that would not be the best idea under the circumstances until my 6 years was up so it would create a problem with the OR even at this late stage
Yes after I was discharged we got engaged and I was paying for new items such as TV washing machine computer holidays carpets bathroom suite the list goes on also to ward the utilty bills food I'm not been greedy I am only asking for the last 2 years nothing more
Edited by - jackie8761 on 25 November 2008 19:43:59
Just be careful that the solicitors bills don't swallow up all the money. It is tricky if you aren't married so if you can come to some agreement between you it might be wise!!!
Thankyou for you help I have set my self a limit to how much I will spend and will not go over it the solicitorhas quite clearly stated I can pull out at anytime I am not been greedy or bitter I just want back what I paid in he is sitting morgage free now as his new girlfriend sold her house and paid off her morgage and his so why should I be the loser when I put alot of money and hard work into the house that they are both enjoying
I was delacred BR in feb 2005
Posted - 24 November 2008 : 22:26:18
