Get UK Law Questions Answered by Verified Experts
What does the debt relate to you?
Do you dispute that you owe this money?
Do you own your own home solely, or with another person?
Thanks for your reply.
Do you own your home solely or jointly with another person?
Is there any equity in the property?
Do you have any other significant assets against which they could enforce the debt?
When was the estate administered to which the debt relates, what year?
I DO NOT HAVE ANY OTHER ASSETS IT STILL HAS NOT BEEN ADMINISTERED AS YET THE COURT HEARING WAS IN 2006
I am restricting my answer just to what the creditor could enforce their debts against. Your dispute which has resulted in this debt is not something I can advise upon because it is a very specific problem relating to particular circumstances. You may consider taking advice from another local contentious probate solicitor on the issue of whether debt is properly payable by you or whether you have a claim against the solicitor you refer to as being incompetent.
The basic position is that they cannot enforce the debt against property that you no longer own (ie. the house). However, if they can prove that the property was transferred to your daughters was done so at an undervalue then it gets more complicated. They could apply to make you bankrupt in which case they could, under Insolvency Act, seek to set aside any transactions at an undervalue made in the previous 5 years.
This would put the house transfer outside the scope of that.
s423 of that act also gives the Court a power to set aside but does not set a time limit. It can set it aside transactions which were made with a view to putting assets beyond the reach of creditors even though there were no debts at the time and you were not engaging in activity that was likely to produce debts.
If you are confident that they will not be able to to prove that you transferred the house with a view to putting it outside of the reach of creditors then the house is probably safe. You should write to them and tell them that you do not own the house.
If this is useful please kindly click accept so that I may be rewarded for my time. It will be gratefully received and you will be free to ask follow up questions.
DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.
The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).