UK Property Law
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How is the property held?
But are both of you on the deeds and any other mortgages
Well if it is only your name on the deeds and the mortgage then there is no reason to believe that the solicitor was negligent. He does not need to suggest that there should be a tenancy for your wife. You wife in divorce proceedings would be able to bring a claim for a share of the house if that was her intention
It is not that straight forward. As in law when someone applies for bankruptcy they have to disclose what assets they have and if they have sold anything of value within the past five years and this includes transferring the home into the wife or sons name only and it also includes cars and land.
If you do that and go bankrupt within the five years of the date of transfer then expect the Ofiicial Receiver to come looking and I have to agree - one should not remove assets from creditors.
Bot***** *****ne then, if you are thinking of going bankrupt should first take professional financial advice to ensure that this is the right course of action for you.