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UK-Justice
UK-Justice, Barrister
Category: UK Bankruptcy Law
Satisfied Customers: 16193
Experience:  Called to the Bar in 2007
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Hello, I have reason to think that my husband (we are separated)

Resolved Question:

Hello,

I have reason to think that my husband (we are separated) may declare himself bankrupt in the near future. Our home is in his sole name, although it was originally brought in joint names.

Can I register an interest in the equity in the property? Or can I buy his beneficial interest. If this happens do I have to pay the mortgage.

At the moment I live in the house with my children and he pays the mortgage.

Thank you
Submitted: 2 years ago.
Category: UK Bankruptcy Law
Expert:  Fran-mod replied 2 years ago.
Hi, I'm a moderator for this topic. I've been working hard to find a professional to assist you right away, but sometimes finding the right professional can take a little longer than expected.

I wonder whether you're ok with continuing to wait for an answer. If you are, please let me know and I will continue my search. If not, feel free to let me know and I will cancel this question for you. Thank you!
Customer: replied 2 years ago.

Hi Fran,


 


I'm fine to wait - its not particularly urgent. I would just like to know my options (if any).


 


Thank you for your reply

Expert:  Fran-mod replied 2 years ago.
Thank you for your continued patience. We will continue the search for a professional for you.
Expert:  UK-Justice replied 2 years ago.
Thanks for your question. Please remember to rate my answer SMILEY FACE OR ABOVE so that I am credited for my time.

If you have a beneficial interest then when the official receiver takes over he will give you the option to buy your husbands share.

If you do not or can not afford to do so the OR has the right to sell the house.

But generally you are given 12 months from the time he is made bankrupt to when they try and sell the house.

So yes, you can be offered his share.

I hope this helps.



Please remember to click *** OK SERVICE *** or above so that I am credited for my time. The question does not close and you can ask follow ups.

Important: If you feel the need to rate as one of the lower two scores, it counts as negative feedback so please reply to me via the REPLY with any further questions you may have. I will be happy to assist you further.
Customer: replied 2 years ago.

Thank you.


 


Is there anything I can do now to register my 'interest' or do I have to wait until he is bankrupt? Is the fact that I live there and originally owned the house with him jointly enough for the OR to accept my request?


 


Would I have to pay the mortgage if I brought his share of the equity?

Expert:  UK-Justice replied 2 years ago.
You need not do anything at this stage.

the OR will be in touch and he will accept your request.

If you purchased his share then you may have to take over the mortgage yes.

Please remember to click *** OK SERVICE *** or above so that I am credited for my time. The question does not close and you can ask follow ups.

Important: If you feel the need to rate as one of the lower two scores, it counts as negative feedback so please reply to me via the REPLY with any further questions you may have. I will be happy to assist you further.
UK-Justice, Barrister
Satisfied Customers: 16193
Experience: Called to the Bar in 2007
UK-Justice and 2 other UK Bankruptcy Law Specialists are ready to help you

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UK-Justice
UK-Justice
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Called to the Bar in 2007