UK Bankruptcy Law
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Who lives in the house?
How much £ has he left in assets and savings and house?
I am offline shortly till later
no one currently lives in the house. He lived alone
House is probably around 90 - 100 K £
He only died 3wks ago
House not rented, but would be 4 - 500£ to rent.
He has a car which is probably worth about £1500.00
son unsure what other assets he has ( amount ,if any savings/shares)
His assets are split equally then between all children.
Do they all want the house rented?
None of the children wants the house as they live in other parts of the country.
the children are fearful the house could be reposed if the morgage is not paid.
They do not know if the house had insurance attatched to the loan. They are still looking to find out who the lenders are.
will his estate have to go to probate as there is no will. How long could this take?
There are also outstanding utilitie bills. What should they do?
Is it advisabsle to get a solicitor?
There is a houseso whoever takes control must get probate for it to be dealt with.
Whoever arrangesthe funeral is responsible for paying it out of the assets. If there is no cashand only the house, better explain that to the undertaker as he will have towait for his cash.
If he is notwilling to do so, contact the local authority who will fund the funeral but willwant repaying from the proceeds of the house.
There will besome documents relating to the mortgage in the house somewhere or, you can getthe land registry title deeds for just 3 pounds here https://eservices.landregistry.gov.uk/www/wps/portal/!ut/p/b1/04_SjzS0tDQwMTIxMjLXj9CPykssy0xPLMnMz0vMAfGjzOKNjSxMDA1NjDwsjM3MDTxN3dyNDUNMjQ1MjPWDU_P0c6McFQH3SLFU/
in section C, thecharges register, it will tell you what charges and mortgages are on theproperty and who has the benefit of them. The administrators can then contactto those lenders directly to find out how much is owed. Send a copy of thedeath certificate and explain the situation.
The lender willbe sympathetic whilst the property is on the market to be sold what interestwill continue to accrue.
If none of thechildren want the house, it must be sold and the proceeds divided between them.
As there isnothing in this for you, I would be inclined to let the children deal with thisbetween themselves because if you do take control and something goes wrong, youwill get the blame and you could be at financial risk.
About as far as Iwould go is to simply refer the matter to a solicitor and give the solicitorthe children's names and addresses.
The minimumperiod for which it is possible to rent a property is six months and thatcannot be done without the lender's consent. They are most unlikely to consentin the circumstances.
Does that answerthe question. Can I assist any further?
I am happy tofollow up any individual point you make
I am off-lineshortly until later but am generally online and off-line each day and mostweekends.
I am trying to keep a low profile with the family affairs, but 2nd child who has had to take on the resposibility is at his wits end in what he has to do and has requested my support. I am merely here in a supportive capacity. Their mother has also asked me to give as much support as posible as she is disabled and not able to do so.
Will pass on some of the information.
If the mother wasnt dependent and didn't contribute to the property, she is out of the frame.
Tell him to get a solicitor to deal with it all. The bill will come from proceeds and he will therefore only pay 1/5th from his share. Save himself the grief
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