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The Courts in the UK have very wide powers in disclaiming transactions that were effected to try and avoid the enforcement of debts owed. If your creditors get judgement in this Country then they would be entitled to apply for an Court order to regain possesoin of the legal title and then an order for sale/charging order. They would be able to seek to claim their legal costs for the application from you (which would be thousands unfortunately).
If you have a mortgage on the property hen you would also not be able to transfer it to your brother's name without their consent this would not be forthcoming unless he was also prepared to be named on the mortgage.
If there is no mortgage then the actual practicalities of transfer the registered title to another person is not that difficult and I could advise you how to do this but on the facts it does not seem the best way forward for you at all. Sorry to be blunt, but I hope you appreciate there is little point in my sugar coating your position for you.
It's a difficult situation and you have my sympathies.
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So would I be able to transfer the mortgage AND the deeds over to my brother?
You would be able to if your brother could demonstrate sufficient finance to receive a mortgage offer. If it were done at an undervalue though this could still pose a problem in the future if it, in effect, defrauded your creditors.
So would this be like a normal house purchase then? He would have to approach a lender etc and do it as any normal purchase?
What would happen if I sold my Spanish property and still owed 20k in negative equity? Would I just be left with a 20k loan?
If he needs a mortgage in order to purchase your property then yes, he would have to approach lenders.
If you owed money after sale of the Spanish property then they would likely seek to obtain judegment in this country and attempt to enforce it against your assets here. You should check with a Spanish Property lawyer about procedure for selling property that is in negative equity.
Obviously, I am not a Spanish lawyer.
How likely is it, given the current state of things in Spain, that they would pursue me for 20K or thereabouts? Is it all dependant on how aggressive the bank is, how much it would cost etc? There must be thousands of people who have done it.
For that sum, it's fairly likely that they'll seek judgement here I'm afraid.
What if I sold my house now and put the money away, then defaulted on payments to the spanish bank in over 1 years time for example?
They would seek to enforce the judgement against your available assets, this includes your house, money you have in the bank etc etc.
What if there are no available assets, i.e. my UK house was sold over a year ago for example? What I'm trying to get ascertain is that if I have nothing on paper then what happens?
They can apply to examine your financial records and if there are any transactions at undervalues (ie. you passed items to person for less than there actual values) then the Court has very wide powers to disclaim those transaction and recover the assets.
This would result in significan legal fees for which you would be liable and which they could seek to enforce against you if you gain other assets or by way of an attachment of earnings order which would take money directly from your salary until the amount is settled.
What if the transaction of the UK house was at value price? I'm not trying to sell my house to my family for a penny or whatever people do, it would be a geniune sale. I would rather sell now and get some equity out of it rather than lose it later on down the line.
That's good news, that was what I meant all along, sorry if I confused the issue.
I would have equity from the sale of my UK house, can you advise how I can put it somewhere that the spanish banks cannot find it? What would you do?
I'm afraid I'm not comfortable with advising you on that. Sorry.
Well what advice are you comfortable in giving me, as you know my situtation?
The advice I'm prepared to give you is as above I'm afraid. Any advice about what to do with any assets would not be ethical in my view and probably against solicitor's conduct rules unfortunately.
Your original quesion has been answered.
It says I have to make £11 additional payment to you but I was on the understanding that £11 per month was the total amount not £11 PER QUESTION PLUS £11 PER MONTH on top on that???