Hi i am in negative equity at the time of declaring myself bankrupt..and a relative will pay a fee of £1 for the title of my property how long do they have to wait before doing this? and once this has been done and the property goes up after time withing 12 months of this period can the official receiver touch this euity?
You will be offered the BI when the OR gets round to it, usually with in the 12 months of the bankruptcy and it is £211 + £1 or if you are the only one on the mortgage it is about £450ish + £1.
Once the BI has been bought then the OR will no longer have any interest in the property and can't come after any equity.
Hi i am in negative equity
Posted - 19 May 2009 : 21:21:44
