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Alex J.
Alex J., Solicitor
Category: UK Bankruptcy Law
Satisfied Customers: 3493
Experience:  2 Years Insolvency Litigation
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my husband transfered some land from joint names to my sole

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my husband transfered some land from joint names to my sole name as part of a divorce settlement now he is being made bankrupt they are chasing me for money, the Divorce papers have been filed but not finalised what are my rights, the mortage of the property is in my sole name and my husband has given all rights away to the property
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Customer: replied 4 years ago.
i can waithanks
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Hi,

Thank you for your question and welcome to Just Answer.

Has the trustee in bankruptcy explained why you should make a contribution to your husbands estate?

Did your husband get anything of equal value in the settlement?

Has the mortgage always been in your name? Why was your husbands name on the property anyway?

I look forward to hearing from you.

Kind regards

AJ
Customer: replied 4 years ago.
The land was in joint names as my husband owed me in over 40k and not having funds to pay me he agreed to sign over the land to me instead of a cash settlement land was brought in 2001 ffor 41k my husband took no money as a settlement as the pending divorce was caused by his adultry. The trustees are claiming he gave the land to me because of his debts the transfer was made to me prior to any knowledge of this bankruptcy. I have now built a house on this land with a mortgae in my sole name only my husband did sign his rights away to any claim on the proprty
Thanks
Hi,

Thank you.

Do you have evidence of the 40k debt he owed you and was the land transferred more than 5 years ago?

Kind regards

AJ
Customer: replied 4 years ago.
no it was money i lent him the land was tranfered in 2011 just before i filed the divorce papers in Jan 2011
Hi,

Thank you.

Unfortunately under S.339 of the Insolvency Act 1986 there is a potential claim the trustee can have against you to unwind this transaction. It is known as a transaction at an undervalue. Where a bankrupt has transferred his assets for little or no value to avoid creditors 5 years prior to the date of the bankruptcy, the trustee can challenge or unwind the transaction.

I would write to the trustee in the following terms:
- You and your ex husband had a legitimate arrangement and the transfer was made prior to any point where your ex contemplated bankruptcy;
- The property is rightfully yours and was part of arrangement for you to relinquish your right to a debt owed for proper and fair value;
- At no point have any creditors been prejudiced from this arrangement and tell the trustee that you want to put him to proof to prove that the transaction was designed to avoid creditors of your ex;
- Tell the trustee that should any court action be taken you will apply for security for your costs under Part 25 of the Civil Procedure Rules.

If the trustee chooses to sue you, you will need to go and speak to a solicitor.

I look forward to hearing from you.

Kind regards

AJ
Alex J., Solicitor
Satisfied Customers: 3493
Experience: 2 Years Insolvency Litigation
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