We have our OR interview tomorrow, how do I approach the OR about buying back our Beneficial Interest as I have evidence we are in negative equity from 2 estate agent valuations done in June.
Also, if someone gives us the money, can we buy the beneficial interest back in our own name and if so does the cost change from £211.
Hi poodle, 1)No need to hurry with the BI, the examiner who will do yor interview tomorrow is just collecting information at this point. After the interview the examiner writes a report to creditors that is normally issued within 8 weeks. After that is issued the OR or a privete IP(not likly f you have low value assets) will become trustee(at the moment he/she is receiver and manager of your estate)and after that he/she can begin to deal with assets. Shortly after becoming trustee you will receive a letter (MP1) asking if you want to puchase the interest back. It is at this point that you have to prove the value of the property.
Beneficial Interest and OR Interview
Posted - 13 July 2009 : 22:01:54
