v Form MP1 and the low cost Property Conveyancing Scheme
The official receiver as trustee should send form MP1, LOIS (DO73) – ‘ Letter to the bankrupt, and/or co-owner of a property inviting an offer to purchase the bankrupt’s interest in that property from the Official Receiver ‘
If the MP1 letter option selected relates to a jointly owned property, it will draw the bankrupt and co-owner’s attention to the Service’s low cost Property Conveyancing Scheme operated by TLT solicitors of Bristol for a fixed fee. See CHM part – Sale of Bankrupt’s Interest in jointly owned property. Use of the low cost Property Conveyancing Scheme should ensure that a bankrupt’s beneficial interest in a jointly owned property can be transferred, usually with the transfer of the legal title, out of the bankrupt’s name, without incurring excessive costs.
With regard to the procedure for dealing with solely owned properties, see Case Help Manual (CHM) part – Sale of Bankrupt’s Interest in solely owned property
can anyone tell me what an MP1 form is
Posted - 09 April 2009 : 13:54:10
