| Author |
 Topic  |
|
|
indy2005
Junior Member
458 Posts |
 Posted - 10 June 2009 : 18:52:44
|
Hi,
I took out 65K when entitled to 57K, paid off my debts at the time, transferred the house to wife as I had used my half (more than) to pay off my debt.
I went BR for additional debt and am now discharged. They never asked about the house, despite me listing everything on the SOA, and now the case has gone from RTLU back to outer space the original OR office to look at beneficial interest.
My question is....
If the mortgage was 150K when I took my money out and is now 145K, can they ask for 2.5K as BI, because I have been paying half the mortgage?
If the above is true, do I need to worry about this type of equity build up occurring now with each mortgage payment, or is this being built up "post discharge". I ask because if this is going to take years to sort out, my wife wants to switch to interest only...so I don't build up any interest in "her house" as she reminds me often.
If the house price goes up, can they say I am entitled to some of that growth? I don't see how as it is my wifes asset, any growth is of her asset not mine. I gave up my interest via a Declaration of Trust and a house transfer.
Thanks
i
|
Edited by - indy2005 on 10 June 2009 23:33:57 |
|
|
RHB
Senior Member
1159 Posts |
Posted - 11 June 2009 : 07:11:52
|
| You took out less thhan your half though by 8000 so I suppoose this is the money that they could be interested in? |
 |
|
|
indy2005
Junior Member
458 Posts |
Posted - 11 June 2009 : 19:56:13
|
| More than my half, I was entitled to 57 and took out 65. |
Edited by - indy2005 on 11 June 2009 19:56:38 |
|
|
|
Orrsum
Starting Member
United Kingdom
1 Posts |
Posted - 25 May 2012 : 12:32:28
|
Hi Indy,
Just wondering what happened with your property. Did the OR ask for funds? Did he challenge the declaration of trust?
Thanks |
|
|
|
year 2029
Average Member
590 Posts |
Posted - 26 June 2012 : 22:07:25
|
Hi Indy,
Any update to what has happened to you?
--------------
Views expressed are my own personal views, based on what has happened during my own BR process unless otherwise stated.
Professional advice should always be sought. |
|
|
| |
Topic |
|
Beneficial Interest - Question
