Sorry to keep going on about the whole property thing, but just wanted to find out if i was to go and live in my property which is currently rented out and also keep the tenants in there so that I was living in part of the property and the tenants in part of the property, then how would the OR view this? I cannot afford to rent at the moment and I i will have to move out of my parents home very soon as the house is very cramped and all my other siblings are way too young to move out.... also if was to keep the tenants in the property and also live in it I would only have to pay £150 PCM....
if you live in the property it will be subject to the 3 year rule unlike an investment property which has no time limit for the trustee to realise any future equity. If you rent out room(s) in the property in which you live it would still be subject to the 3 year rule as it is still your main residence.
Bankruptcy/property
Posted - 30 March 2009 : 21:27:12
