My partner and I were declared bankrupt on the 12 February this year and had our OR interviews on the 23 March.
I was worried sick about our landlord and whether or not our being declared bankrupt would result in him kicking us out. Yesterday my phone rang and I saw it was the landlords office. I felt sick. The landlords PA said the OR had been in touch asking for confirmation about our tenancy and rental amount. She asked me to explain how our bankruptcy impacted on our current finances.
I explained again our house repossession (the reason we moved into rented accommodation) 12 months ago and that the bankruptcy didn’t make any difference with regard to our ability to pay our rent. She already knew about our house being repossessed as we told the landlords office that before we moved in a year ago.
The PA said that was ok, she thought we had become bankrupt due to the house repossession (and subsequent shortfall) and as long as the rent was paid on time as it always had been then there was no problem as far as they were concerned.
I was so relieved!
All we have to get through now is my partners interest in a house he is on the deeds for, his previous marital home where his children and their mother still live. I was thinking that we should suggest that my partners wife (they never got a divorce, despite being separated for 6 years) that she see a solicitor to see if my partners interest in the property was reduced from 50/50 to a lesser percentage. He has had no financial input into the property either for its upkeep or the towards the mortgage payments for 6 years, a third of the time he has been on the deeds. We think it reasonable therefore for my partner to have a lesser interest in the property which will mean his wife has less to pay to the OR to buy partners interest. Is partners wife seeing a solicitor the right way to go?
As far as i am aware if he hasn't had any input into the property in 6 years but did before, then the OR could have a claim on 50% of the equity in the property at that point 6 years ago. i'm sure there will be an expert along in a while to clarify things for you . Or you could try contacting one of them through the experts link at the left of the screen.
Dave
Don't worry or know that worrying is as effective as trying to solve an algebra equation by chewing bubble gum. Life's too short!!!
Rental property/ what to do re house owned with ex
Posted - 03 April 2009 : 14:24:43
