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sll
Starting Member
2 Posts |
 Posted - 09 December 2008 : 07:18:07
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Hi ,in 1993 i got divorced and paid my wife for her half of the house.Part of the divorce was that i sign a document that if i got married again and i died the house would go to my 3 children not my new wife.A year ago i decided to leave the country and go and live in thailand.I borrowed money to do this.I put my house up for sale but when i went to sell i found the document i signed was to put the house in trust for my children.I f i sold it the money would go into a trust fund but i could have the interest.I have now run out of money and will return to uk in a few weeks but i will have no income,no job and debts of around 25,000pounds.I would like to go bankrupt and rent my house or sell it and have the interest on the money and return to thailand .Could they take my house even if it is in a trust fund or could they take the interest if i sold the house.This would leave me with nothing to live on.
cheers
steve |
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Needafriend
Junior Member
United Kingdom
344 Posts |
Posted - 09 December 2008 : 07:30:34
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Hi & Welcome
I am sorry to hear about your current situation, i do believe that as long as you can prove to the OR that the house is in TRUST then they cannot touch it.
I take it the whole house is in trust or is there any on there that would be yours?
Jo
x
18 Weeks down
34 to go
For more info on how i have come through bankruptcy and for links to help, you can read my blog here called:
Needafriend's Info on Bankruptcy :-)
http://debtfreejo.blogs.bankruptcyhelp.org.uk/
Needafriend says: Live life to the full, take life by the horns and live a little, otherwise life would be so boring!
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RHB
Senior Member
1159 Posts |
Posted - 09 December 2008 : 18:31:12
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| Is it a legal document? I'm confused because of you paid your ex wife out for her half of the house I fail to see how she has anything to do with it in terms of leaving it in trust for the children & therefore I would deem it to be yours. |
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sll
Starting Member
2 Posts |
Posted - 10 December 2008 : 02:39:18
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Hi ,yes confuses me ,when i started to divorce my wife she said she would not claim half the house if i signed that document but later near the end of the divorce she changed her mind and i had to remorgage to pay her off so it does not seem fair my half was put in trust and she had her half cash.The solicitor who messed all this up has now closed and it is very hard to find any info.If i could sell it i would pay off the debts and would have no problem.If i could go bankrupt and rent the house i could easy live on the rent or the interest but i am not sure if they would take the money leaving me with nothing to live on.The whole house is in trust.Not very good really . my mortgage finishes in march 2009 after 22 years and i dont own the house.I have a solicitor but not very helpful says there is nothing i can do even though i paid my wife off i still signed the house into a trust fund.
cheers,thanks for help
steve l-t
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Could they take my house in a trust fund
