My husband is hinking of declaring himself bankrupt. We married 7 years ago and he moved into my house which I owned outright and is still in my name. He contributes towards the upkeep etc but has no stake in the property. Will the house be at any risk if he goes ahead and declares bankrupcy? Also, is anything I already owned before we met at risk? Many thanks
The house could possibly be at risk as the OR would probably deem your husband to have a beneficial interest (BI) in the property as he has contributed to the upkeep for the last 7 yrs. If the house has equity then then OR could judge 50% of this as your husband's and want to release this.
You might want to have a chat with one, or both, of the two companies below who post on this board as they have experience of these types of issues and may be able to advise whether you could make a case for your husband not having a BI in the property:
I think you are in anetter position of you paid for tyhe house before you were married, unlless maybe he contributed towards the costs of say a new extension that would hhave increased value.
In this case the onus lies with the official receiver/ trustee to prove beneficial interest in the property, and NOT for you to prove otherwise. therefore it would be extremely rare to press for any financial claim in such a case.
My husband is thinking of declaring himself bankrup
Posted - 09 September 2009 : 11:54:45
