I have nearly £100,000 in debts. I have just been made redundant and took retirement. I am 67 in July.2009 The house is in my wife's name and she is paying the mortgage. If I go bankrupt can my wife keep the house ?
the house being in your wife's name only has little bearing in a case of the unnamed spouse declaring bankruptcy.
Everything depends on the value of the property, the equity in the property, how long you have both lived in the property, who paid the initial deposit, who paid the mortgage repayments and utility bills etc etc.
All these details will be taken into consideration by the Official Receiver's office, in the event of your bankruptcy, to determine whether or not you have a proprietary interest in the property and if so to what degree.
I have nearly £100,000 in debts.made redundant
Posted - 13 February 2009 : 21:33:55
